Conad completed the $1.1bn acquisition of Auchan Retail Italian unit.

Conad, the Italian cooperative retail group, completed the $1.1bn acquisition of Auchan Retail Italian unit from Auchan, a French international retail group and multinational corporation. “By bringing together, through this sale, the expertise of the Conad and Auchan Retail Italia teams we wish to improve the current difficult situation for the activities of Auchan Retail in Italy and allow Conad to continue, through this acquisition, its ambitious development plan within the country. For the teams of Auchan Retail Italia, it is the opportunity to join an Italian actor, henceforth the market leader with a strong commercial momentum," Edgard Bonte, Auchan Retail Chairman.