Supermarket group Colruyt announced it had signed an agreement with Metro Group to sell Pro à Pro, Colruyt Group’s foodservice distribution business in France.
Pro à Pro, with 1,700 employees and revenue of €670 million in 2015, supplies ambient and chilled food products to over 40,000 customers in the social sector, such as hospitals and schools, and in the commercial sector to hotels, restaurants and caterers.
The transaction comprises the brand name and the operational business, as well as the distribution centres, logistic platforms and truck fleet of Pro à Pro. It will have a limited effect on the Colruyt Group consolidated financial statements of 2016/17.
Colruyt said after a review of the strategic options for Pro à Pro, that Pro à Pro’s growth ambition were best realised by combining it with a strong complementary market player. All other Colruyt businesses in Belgium, France and Luxembourg are not affected by the transaction and will be invested in for further growth.
The sale is subject to standard conditions and approvals.