Nearly 300 Auchan stores are set to rebrand under the Intermarché banner. The two retail giants have recently forged a new agreement, accelerating their partnership. With this move, Intermarché outmaneuvers its competitors and positions itself closer to Carrefour and E.Leclerc in terms of market share. Insights provided by AURIS Finance, a consulting firm specializing in mergers and acquisitions.
Growth without debt
Intermarché secures its place in the top three national retailers without spending a single euro. The group has formed a partnership with Auchan, expected to take effect by the end of 2026. Auchan hypermarkets will transition to the Intermarché brand – an operation achieved without debt or investment, purely through partnership.
€3.3 Billion in Revenue
A total of 294 stores are involved. Owned by the Auchan group, these hypermarkets generate €3.3 billion in revenue and employ 11,400 staff. They will rebrand under Intermarché and Netto.
“Our stores will adopt the Intermarché concept but will remain fully owned by Auchan,” stated Guillaume Darrasse, President of Auchan France and CEO of Auchan Retail.
Rising market share
This strategic move will enable Intermarché to make a significant leap in the French market. By incorporating 294 stores, Intermarché – currently the third-largest retailer – absorbs the sixth-largest player. This follows a trend of consolidation that began in 2024. In January 2024, the Casino group signed agreements with Auchan and Les Mousquetaires-Intermarché to transfer 288 hypermarkets and supermarkets.
A new business model
Over the past few years, Intermarché and Auchan have deepened their collaboration. Since the creation of the joint purchasing center Aura in September 2024, the two retailers have unified their procurement processes. They have also partnered in a shared advertising network, Valiuz.
Auchan’s financial struggles
Facing significant financial challenges, Auchan has found a lifeline by aligning with the Les Mousquetaires Group. The Mulliez family retains ownership of the properties, effectively becoming a franchisee of Intermarché. This marks a pivotal moment for the family-owned group, which is now focusing its efforts on its two strongest brands: Leroy Merlin and Décathlon. The Auchan brand will gradually disappear from mainland France, except for a few stores in Corsica.
A consolidating sector
The French retail market is increasingly dominated by a handful of major players. E.Leclerc remains the leader with 24.1% market share, followed by Carrefour (22.7%) after its integration of Cora stores. With the acquisition of 294 Auchan stores, Intermarché makes a strong advance. This takeover aligns with the Les Mousquetaires Group’s strategy to achieve a 20% market share by 2028.
Our experts by your side
In the coming months, the retail sector is expected to continue consolidating, with further mergers and acquisitions. Beyond these major shifts, hard discounters are gaining ground, appealing to price-sensitive consumers. Since 2020, the number of hard discount stores in France has doubled, reaching 4,500 outlets in 2025.
At AURIS Finance, our experts specialize by sector. Our retail specialists are here to support you in mergers, acquisitions, and financing operations.
