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The French distributor Casino announced Monday it has agreed to sell its subsidiary Vindémia, a retailer in the Indian Ocean, for 219 million euros to GBH.
This transaction marks the final step of a large badet disposal plan by Casino. The owner of the high-end brand Monoprix and local stores Franprix seeks to reduce its debt and focus on its main markets.
In May, Casino parent companies began a "safeguard procedure" to freeze their debts and avoid bankruptcy for up to 18 months.
Founded in 1972 in Reunion, Vindémia was gradually acquired by Casino between 2001 and 2007. GBH, a family group whose activities focus on industrial activities, automotive distribution and retail, will continue the development of the Vindémia brand. .
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