Key Takeaways
- Carrefour exits Italian retail after €180M in annual losses.
- NewPrinces acquires 1,000 stores in €1B deal, becomes top food employer.
- Labor unions call strike, citing lack of clarity on jobs and operations.
- Government hails move as a “Made in Italy” strategic milestone.
In a transformative Carrefour Italy sale, French retail giant Carrefour SA will transfer ownership of its entire Italian supermarket network to NewPrinces Spa, an Italian food conglomerate, for €1 billion. The move concludes Carrefour’s two-decade struggle to capture market share in Italy, while propelling NewPrinces into the retail mainstream.
With the deal, NewPrinces acquires nearly 1,000 stores and becomes the country’s second-largest food group by revenue—€11 billion annually—and its largest food-sector employer.
“This acquisition represents a fundamental step in our growth,” said NewPrinces chairman Angelo Mastrolia. “It strengthens our ability to generate value through full supply chain integration.”
Carrefour Sheds a Burden
The Carrefour Italy exit comes amid mounting losses, with the division reportedly hemorrhaging €180 million annually. The decision to divest follows similar moves in less profitable regions as the company consolidates operations across core markets.
Carrefour CEO Alexandre Bompard said Italy’s operations are being left in “good financial condition,” though analysts point to structural inefficiencies that weighed heavily on earnings.
NewPrinces may revive the historic “Gs” supermarket brand, which Carrefour phased out in 2010, pending a mandatory three-year holding period.
Labor Unrest Grows
News of the NewPrinces Carrefour acquisition triggered immediate backlash from labor unions. Filcams CGIL, Fisascat CISL, and Uiltucs declared a state of strike, citing a lack of transparency about the future of Carrefour workers.
“We demand answers on job security and investment strategy,” a Fisascat CISL spokesperson said. The unions are calling for urgent discussions with the Ministry of Enterprise and Made in Italy.
The government, however, voiced strong support. “This strengthens Made in Italy,” said Minister Adolfo Urso, who confirmed plans to meet with both the company and unions.
A €400 million investment package is said to accompany the sale, though the breakdown between brand development and workforce transition remains unclear.
Strategic Repositioning
NewPrinces, already known for consumer staples like Plasmon and Giglio, is leveraging the Carrefour Italy sale to move up the value chain—mirroring Nestlé’s and Unilever’s vertical strategies.
Retail analysts warn of execution risk. “Integration is not just about assets, it’s about culture, systems, and labor continuity,” said a Milan-based consultant.
Pending regulatory clearance, the deal is expected to close by the end of 2025.
