Clifford Chance advises Carrefour on its proposed acquisition of Codifrance from Colruyt Group

International law firm Clifford Chance is advising Carrefour on its proposed acquisition of Codifrance from Colruyt Group.

Codifrance is a leading French player specialising in affiliation and convenience food distribution, supplying approximately 3,100 customers across France. The company employs approximately 380 people and generated revenue of €307 million in the 2025/26 financial year. The transaction values Codifrance at an enterprise value of €152 million.

The proposed acquisition forms part of the Carrefour 2030 strategic plan, which notably aims to continue growing Carrefour’s convenience business and pursue selective acquisitions of high-value assets. The transaction would strengthen Carrefour’s leadership in the convenience segment in France and further enhance its ability to support independent retailers, leveraging Codifrance’s customer base, logistics infrastructure and teams’ expertise.

Completion of the transaction remains subject to completion of the information and consultation process with the relevant employee representative bodies, as well as approval by the French competition authority. Completion is expected during the first half of 2027.

The Clifford Chance team comprises Marianne Pezant (Partner) and Adeline Nayagom (Counsel) on the M&A aspects, as well as David Tayar (Partner) and Clémence Carlier (Counsel) on the antitrust aspects.

Press contact: Lydia Persico