B&M buys French retailer Babou for 91.2 million euros

B&M European Value Retail S.A. (B&M) has announced the acquisition of French brand Babou for 91.2 million euros (80.5 million pounds).

B&M group currently has a network of 591 discount stores under the B&M banner, as well as 269 low-cost Heron Food stores and 88 Jawoll outlets in Germany.

Commenting on the announcement in a statement, CEO of B&M, Simon Arora, said: “B&M has made no secret of its European growth plans since its IPO in 2014. We are delighted that discussions with Babou over a 3 year period have led to today's transaction, which provides us with a platform for future growth in a large and attractive market whilst also providing a stable and logical new owner for Babou.

“We would like to welcome all Babou's employees and stakeholders to the wider B&M family and look forward to a successful future together.”

There’s also a change of management at Barou. Cédric Mahieu, director of European operations of B&M since January 2018, is to replace Thierry Morter, who will be retiring after eight years as general manager at Babou.