Carrefour-Marinopoulos JV To Pursue Balkans

Western Europe-focused French mass grocery retail (MGR) giant Carrefour has tied up a new joint venture (JV) with Greek retailer Marinopoulos to target the Balkan region. As partners for nearly 17 years, Carrefour and Marinopoulos operate more than 500 stores across Bulgaria, Cyprus and Greece. After relying largely on a saturating Western Europe (France alone accounted for 44% of net sales in FY08), BMI believes emerging market expansion to be key to Carrefour's long-term headline growth

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