The grocery retail industry is seeing major companies engaging in strategic mergers and acquisitions (M&A) to strengthen their market presence and drive growth.

For the grocery retail sector, market share within each region is important, but equally crucial is achieving economies of scale to streamline operations and reduce costs. As a result, M&A activity is particularly robust within this sector of the retail industry.
The US-based management consulting firm Bain & Company reported that the retail industry as a whole saw a decrease in M&A deal volume of 14% year-on-year in the first three quarters of 2023, while the total deal value increased by 12%. In contrast, the grocery retail segment experienced a 5% increase in deal volume and a substantial 46% rise in deal value.

ALDI, which operates approximately 2,400 stores in the US, continues to open over 100 new locations annually, while expanding its market territory through M&A.
In August 2023, ALDI announced its acquisition of approximately 400 stores under the Winn-Dixie and Harveys Supermarket banners from regional chain Southeastern Grocers, located in the southeastern US, with the transaction finalized by March 2024.
Since its entry into the southeastern US market in the mid-1990s, Aldi has invested around $2.5 billion (350 billion yen at 140 yen/dollar) opening new stores in the region, and the acquisition of Winn-Dixie and Harveys Supermarket significantly boosts ALDI's store network in the area. While most acquired stores will continue operating under their current name, the process of converting around 50 stores to the ALDI format started in mid-summer of 2024.

The trend of expanding store networks through M&A is also evident among regional chains in the US.
In April 2024, Midwest-based chain Hy-Vee acquired 22 stores under the Strack & Van Til Food Market banner in northwestern Indiana.
Similarly, Weis Markets, a regional chain operating 196 stores primarily in Pennsylvania, announced in September 2024 its acquisition of two supermarkets from Sunnyway Foods, a local chain from Franklin County in southern Pennsylvania.

British grocery retail giant Sainsbury's, which operates around 600 supermarkets, announced in August 2024 its acquisition of 10 locations from home improvement retailer Homebase for approximately £130 million (24.7 billion yen at 190 yen/pound).
These locations will be converted into Sainsbury’s supermarkets by the end of December 2025 and will range from 15,000 to 40,000 square feet (1,394 to 3,716 m²). This acquisition means nearly 400,000 more people will be within a 10-minute driving distance of a Sainsbury’s store.

In July 2024, France’s largest retailer Carrefour acquired 60 hypermarkets under the Cora banner and 115 supermarkets under the Match banner from the Belgian retail giant Louis Delhaize. The deal's enterprise value totaled €1.05 billion (168 billion yen at 160 yen/euro).
The acquired stores are mainly located in the Grand East and Northern regions of France, areas where Carrefour has historically had a limited presence. This acquisition increases Carrefour's market share in France by 2.4%, bringing it to 22%. Carrefour anticipates synergistic effects as the newly acquired stores complement its existing market footprint.
Carrefour will invest €250 million (40 billion yen) into its integration plan for the Cora and Match brands.
While all the Cora stores will be rebranded as Carrefour by October 2024, the Match banner, which enjoys strong brand recognition in northeastern France, will be retained and will coexist with Carrefour Market supermarkets as part of the growth strategy.
From September 2024, Carrefour will introduce approximately 6,000 of its private-label products into the Cora and Match stores, with plans for future integration of the stores into Carrefour’s e-commerce and retail media businesses.
Prior to the acquisition of Cora and Match, Carrefour also acquired 10 hypermarkets and 13 supermarkets in April 2024 from Casino Group, a major French retailer undergoing restructuring.

Alimentation Couche-Tard (Couche-Tard), a Canadian convenience store giant known for its Circle K convenience store brand, has been aggressively expanding its US store network through acquisitions.
In April 2023, Couche-Tard acquired 45 Big Red Stores in Arkansas, followed in November of the same year by the purchase of 112 MAPCO locations in five southeastern states, including Alabama and Georgia, for $468.7 million (65.6 billion yen at 140 yen/dollar).
The following year in August 2024, the company agreed to acquire around 270 GetGo Cafe + Market convenience stores from the Midwest-based Giant Eagle regional chain for approximately $1.6 billion (224 billion yen). This transaction is expected to close by 2025, pending regulatory approval.
Couche-Tard’s five-year plan, announced in October 2023, emphasizes expanding its store network through new openings and M&A, as one of the main pillars in its growth strategy. With the US convenience store market remaining fragmented, the company is looking to increase its market share through strategic acquisitions.
In August 2024, Couche-Tard also revealed it had made a takeover offer for Seven & i Holdings, the Japanese parent company of US convenience store giant 7-Eleven. Future developments regarding this offer are also attracting considerable attention in Japan.