Carrefour sells its Italian supermarkets to NewPrinces for €1 billion.

Carrefour is leaving Italy. Carrefour Italia’s decision to sell its entire network of stores across the country to the NewPrinces Group has been confirmed. The Italian company NewPrinces (formerly Newlat) has signed a binding agreement with the French supermarket chain for the acquisition of 100% of Carrefour Italia’s share capital, based on an enterprise value of approximately €1 billion. In just one year, the company has grown from €750 million in revenue to €6.9 billion, becoming the second largest Italian food group by revenue and the largest food operator in terms of employment. It employs 10,000 people directly and 8,000 indirectly, totalling 18,000.

Carrefour has been present in Italy since 1993 and currently operates approximately 1,200 stores, comprising 980 franchises, and employs around 13,000 people, both directly and indirectly.

Who is Angelo Mastrolia

Angelo Mastrolia, the owner of NewPrinces, a group based in Reggio Emilia, is 61 years old and originally from Campagna, in the province of Salerno.

In 2008, he acquired Newlat, a company founded four years earlier within the Parmalat group. Over the years, he grew the company through a series of acquisitions, including the Buitoni brand in 2008 (which was not renewed as a license by Nestlé in 2022), Delverde in 2019, and Centrale del Latte d’Italia in 2020. In 2024, with the acquisition of British company Princes from Mitsubishi Corporation, the company also changed its name to NewPrinces.

Today, NewPrinces has approximately 30 brands in its portfolio, with plants located in Italy, the United Kingdom, Germany, France, the Netherlands, Poland, and Mauritius.

With the acquisition of Carrefour Italia, NewPrinces becomes the second-largest Italian food group by turnover and the leading food operator in terms of employment, with 13,000 direct workers in Italy and more than 18,000 worldwide, in addition to a further 11,000 people involved in ancillary activities provided by external companies.