Carrefour has decided to halt the planned sale of its Argentine subsidiary, opting instead to retain and reposition the business as part of a renewed growth strategy in Latin America. The move follows several months of negotiations with potential buyers, which ultimately failed to deliver offers reflecting the asset’s perceived long-term value.
The decision signals a strategic pivot by the French retailer, which had previously considered exiting Argentina amid macroeconomic volatility. Rather than divesting, Carrefour is now looking to regain momentum in what remains one of its most important markets in the region, second only to Brazil.
As part of this repositioning, the group has appointed Noël Prioux as CEO of Carrefour Argentina, replacing David Collas. Prioux brings extensive regional experience, including more than eight years leading Carrefour Brazil, and is expected to spearhead efforts to improve operational performance and profitability.
The announcement comes shortly after a visit to Argentina by Carrefour Chairman and CEO Alexandre Bompard, who reaffirmed the company’s commitment to the country. The retailer continues to hold a strong market position locally, which management sees as a foundation for future growth.
Carrefour had initially announced in mid-2025 its intention to exit Argentina as part of a broader strategy to focus on more stable and strategically relevant markets such as France, Brazil and Spain. However, the sale process encountered significant obstacles, including weak consumer demand and a challenging macroeconomic environment that deterred potential investors.
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One of the most advanced proposals came from businessman Francisco de Narváez, in partnership with investment fund L Catterton, reportedly valuing the business at around $1 billion. Despite initial interest, negotiations did not materialise into a final agreement.
Recent performance trends have also influenced Carrefour’s decision to stay. In the final quarter of 2025, the Argentine unit posted a 33.6% increase in like-for-like sales. While part of this growth is linked to price effects in an inflationary context, it has reinforced internal confidence in the business’s medium-term potential.
Prioux now faces the challenge of stabilising operations and setting the subsidiary on a sustainable growth path. The company has indicated that the priority will be to strengthen execution, enhance efficiency and rebuild profitability.
Although Carrefour is committing to a new phase in Argentina, market observers suggest that a future divestment cannot be ruled out once the business reaches stronger operational levels and market conditions improve.
