Monoprix

Monoprix S.A. (French pronunciation: ​[mɔnɔpʁi]) is a major French retail chain with its headquarters in Clichy, Hauts-de-Seine, France, near Paris.[1] The company's stores combine food retailing with hardware, clothing, household items and gifts.

This article is about the French Monoprix retail chain. For the Tunisian chain, see Monoprix (Tunisia).
Monoprix
Société par actions simplifiée
IndustryRetail
Founded1932
FounderMax Heilbronn
Headquarters
Clichy, Hauts-de-Seine
,
France
Area served
  • France
Key people
Jean-Charles Naouri (CEO)
ParentGroupe Casino
Websitemonoprix.fr
A Monoprix location, which is the former head office of the Félix Potin company, in Paris
A Monop' location in Paris

History

The company was founded in 1932 in Rouen by Max Heilbronn, a son-in-law of Theophile Bader, the founder of Galeries Lafayette.[2]

In 1991, Monoprix acquired the Uniprix brand after Galeries Lafayette took over Nouvelles Galeries, the parent of Uniprix.

In 1997, the chain merged with French retailer Prisunic, in a deal that saw Casino Group acquire a 21% stake in the merged company.[3]

In 2000, Galeries Lafayette, entered into an agreement to sell a 50% interest in Monoprix. Casino Group provided Galeries Lafayette with a put option to sell the remaining 50%. In 2012, after legal wrangling over the value of the put option, the shareholders of both firms agreed on a sale price of $1.6 billion (€1.2 billion).[4] The Autorité de la concurrence, France's competition regulatory body, approved the transaction in 2013, with the condition that the merged group sell 58 stores. This allowed the deal to close, making Monoprix a wholly owned subsidiary of Casino Group.[5]

The Monoprix group had more than 300 stores and employed around 20,000 people in France at the end of 2008.[6] Monoprix is present in approximately 85% of all French towns with a population of more than 50,000.[6] In 2005, Monoprix had €3.3 billion in revenue.[6]

See also

References
  1. "Informations légales Archived 2010-02-09 at the Wayback Machine." Monoprix. Retrieved on 4 February 2010. "Siège social : 14 - 16 rue Marc Bloch 92116 CLICHY Cedex"
  2. O'Connor, Clare (2013-11-26). "High Fashion, Nazi Plunder And Family Feuds: Retail's Newest Billionaire Has Quite A Story". Forbes.
  3. Jones, Terril Yue (1998-04-20). "Eat or be Eaten".
  4. Daneshkhu, Scheherazade (2012-06-29). "Casino and Lafayette end Monoprix fight". Financial Times.
  5. Daneshkhu, Scheherazade (2013-07-13). "French watchdog approves Casino's takeover of Monoprix". Financial Times.
  6. Overview of the Monoprix group (in French)
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.