Carrefour to acquire Wellcome and Jasons
By ECCT staff writers
Carrefour, the France-based supermarket and hypermarket chain, has announced that it will acquire Wellcome Taiwan Co. Ltd, which operates supermarket chains Wellcome and Jasons Market Place in Taiwan.
Carrefour said in a statement that it has reached an agreement with Hong Kong-based Dairy Farm International Holdings Ltd., which owns Wellcome Taiwan, to acquire the company.
The €97 million (US$108.6 million) deal will give Carrefour ownership over the 199 Wellcome supermarkets and 25 Jasons Market Place stores in Taiwan, as well as other assets Wellcome has in the country.
The deal is expected to be finalized by the end of 2020. Carrefour plans to switch out the signage at all Wellcome supermarkets in Taiwan within one year of the deal being finalized and that the Jasons Market Place stores will become “high-end Carrefour supermarkets”.
Carrefour currently operates 137 stores in Taiwan, and earned revenue of €1.968 billion euros in 2019, while Wellcome Taiwan had revenue of €390 million.