France Food & Drink Q4 2018
After a rapid succession of purchasing partnerships were formed in H118 between the major grocery retailers,including Auchan-Casino and Carrefour-Système U, reports regarding consolidation in the sector emerged in September. Casinostated that it had rejected a bid from Carrefour, which denied that it ever made a bid. Consolidation would certainly provide somerelief to retailers saddled with heavy debt loads, unprofitable store locations in depopulated areas and declining margins as a resultof ongoing price wars. However, given the potential for reduced competition, it would need to pass scrutiny from the Frenchregulator. With consumer spending on food and drink expected to remain solid but unspectacular, the reprieve that consolidationwould offer would help them to navigate this difficult environment. Growth opportunities remain in convenience, online sales, fastdelivery and high quality, healthy products.
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