Carrefour plans to sell its business in Argentina: it is evaluating candidates and considering a partial or total exit from the country.

Carrefour has initiated a strategic review process that could lead to its total or partial exit from the Argentine market. According to sources close to the company, the French chain has granted Deutsche Bank a mandate to assess its local assets and explore potential buyers or partners interested in acquiring its operations in the country. Although no concrete decisions have yet been made, the decision marks a key change for one of the most important players in the supermarket sector in Argentina .

The mandate entails a business evaluation that could culminate in a complete sale or the incorporation of a local partner, a formula the company already applies in other countries in Asia and Africa. The company clarified that the process does not currently affect the continuity of operations or job creation. The search for a buyer of this magnitude can take months and includes several stages: asset valuation, presentation of figures to interested parties, and receipt of formal offers.

The decision is part of Carrefour CEO Alexandre Bompard's global plan, which in February announced a thorough review of its businesses in all the countries where it operates directly. The goal is to divest subsidiaries deemed non-strategic to strengthen its presence in the group's core markets: France, Spain, and Brazil. In this context, operations in Belgium, Italy, Poland, Romania, and Argentina were analyzed, and Paris ultimately decided to maintain its European presence and review its Argentine business.

In recent years, Carrefour's local subsidiary has become the largest in the country, with more than 680 stores of various formats in almost every province and a workforce of over 17,000 employees. With annual sales of nearly US$6 billion, it maintains strong competition with Coto for leadership in the food and beverage sector. Despite its size, the parent company considers the Argentine business no longer a priority.

Since its arrival in the country in 1982, the company has experienced periods of strong expansion. During the 1990s, at the height of the consumer boom, the Argentine subsidiary became one of the group's most profitable globally, with milestones such as the Quilmes hypermarket, which for years was the chain's largest retailer worldwide. However, in recent years, local economic instability and declining purchasing power have impacted its results.

In Paris, they are concerned about Argentina's macroeconomic environment, persistent inflation, and regulatory uncertainty. This may have influenced their decision to prioritize other markets. A source with direct knowledge of the process stated: "We had to choose between Argentina and Romania, and in Paris, they preferred to stay in Romania." The group's previous experience with foreign exits also plays a role: they already withdrew from Colombia in 2012 and China in 2019.

Although the process is just beginning, several potential interested parties have already been mentioned. These include La Anónima (owned by the Braun family), the GDN group (owned by Francisco de Narváez, which bought Walmart in 2021), the Inverlat fund (owner of Havanna), and even Mercado Libre, which has made inroads into the food retail industry in recent years. For now, Carrefour has remained officially silent on the operation. But the intention to change the business model in Argentina is already underway.