Electra Consumer has signed a memorandum of understanding with Carrefour to open a chain of supermarkets in the country. * More than 150 Yenot Bitan branches will be gradually converted to Carrefour branches, with the first branches under the brand to be opened before the end of 2022.Electra Consumer CEO, Zvika Schwimmer: “Carrefour’s entry is the biggest move in Israel’s retail history ever”.
Less than a year after completing the control acquisition of Yenot Bitan,Electra Consumer Products (Consumer Products Division) reports today (Sunday) that it has signed a memorandum of understanding with Carrefour to open a supermarket chain in Israel under the Carrefourbrand.
As part of the agreement, more than 150 branches of the Yenot Bitan chain will be gradually 0 converted to Carrefour branches. The first branches under the new brand will be opened before the end of 2022, and the branded Carrefour products will begin being sold at Yenot Bitan branches before the summer.
Carrefour is the largest international retailer to enter Israel to date, with about 13,900 branches and sales turnover of 81.2 billion euro.
“The most significant move in the history of retail in Israel”
For Carrefour this is an expansion of the company’s international activity. Patrick Laspargos, president of Carrefour’s International Division, said: “We are pleased to sign this agreement, which once again proves the solid foundations of Carrefour’s international franchise strategy. Electra Consumer Products is a company with a strong spirit of retail entrepreneurship, which proved itself once again when it acquired Yenot Bitan in 2021. We are confident that Carrefour’s arrival in Israel will significantly help improve the local shopping experience and strengthen the purchasing power of the consumer, who will receive better products at more affordable prices”.
Zvika Schwimmer, CEO of Electra Consumer, said: “Carrefour’s entry into Israel is the largest and most significant move in the Israel’s history of retail ever. Carrefour’s being a leading global marketing chain and one of the largest food and consumer producers in the world, will enable the company to lead the food and consumer market in Israel and enter new fields. The benefits of Carrefour are in line with our strategy - to bring added value to the consumer and lead in every field it enters”.
Amit Zeev, CEO of Yenot Bitan said: “Carrefour brings with it a truly good tidings to the Israeli consumer in the consumer experience, in the variety of products and the price level. The agreement with Carrefour allows us to skip over the many obstacles characterizing the food and consumer market in Israel and offer consumers solutions that currently do not exist in Israel. Carrefour’s entry to Israel will change the rules of the game in the market and will set us apart and give us advantage over the competitors. But more important, we are preparing to bring good tidings and change that will be felt in each and every home and offer solutions to the cost of living for the consumers in Israel”.
The pioneer of the world hypermarkets
Carrefour Group is the world’s leading food retailer, operating about 13,900 stores in more than 40 countries in Europe, the Middle East, North Africa, East Asia and in Africa.
Carrefour is a public company whose shares are listed on the Euronext N.V. stock exchange, and its market value is about 14 billion euro.
Carrefour was established in 1960 in France. It is the leading marketing chain in Europe and one of the largest chains in the world It operates directly across Europe and also operates as part of partnerships in other countries in the Middle East, North Africa, East Asia and in Africa. In the past year alone, more than 200 Carrefour stores have been opened around the world.
In fact, Carrefour is one of the world’s largest food and consumer manufacturers. The company manufactures in hundreds of plants around the world, 14 thousand food and non-food products, under 20 brands it owns. Carrefour brands that offer a wide range of products in different price ranges and of excellent quality, provide a solution to consumer trends and changing consumer preferences such as organic, gluten-free products and more.
Carrefour produces pasta, chocolates, snacks, cheeses, delicacies, ketchup, sauces, conserves, fresh food, wine, beer, cleaning products, hygiene products, detergents, organic food and more. In fact, Carrefour manufactures products in every category of the food and consumer market (FMCG)
Furthermore, the company has special expertise in French gastronomy and offers a wide and unique range of products that characterize the French cuisine, with emphasis on wines, cheeses, pastries and desserts.
In addition to food and consumption, Carrefour is active in a wide variety of fields, including toys, costumes, lingerie, fashion, sports, housewares and household products, furniture, tools, office supplies and more. Every year the company launches 8 rotating collections in these areas. The products are sold both in the chain branches and online.
Electra Consumer Products of Elco Group is controlled by the Zalkindbrothers0. In the last two years, the company, led by CEO Zvika Schwimmer, has made a number of strategic moves that have positioned it as a leading consumer and retail group. Its activities currently focuses on three main areas of activity: the first, it is an importer and manufacturer of electrical products and air-conditioners, and is the leading retailer in the field of electricity with Machsaney Hashmal and Shekem Electric chains; the second, it is the controlling owner of Yenot Bitan chain and it owns the franchise to open the convenience store chain of the global brand 0 7 Eleven; The third activity arm is in the field of leisure and the field, which the company has entered with the acquisition of control of Saar A.T. Enterprise & Commerce Ltd., Columbia franchisee in Israel.