Monoprix

Source: Wikipedia, the free encyclopedia.
This article is about the French Monoprix retail chain. For the Tunisian chain, see Monoprix (Tunisia).

Monoprix
Groupe Casino
Websitemonoprix.fr
A Monoprix location, which is the former head office of the Félix Potin company, in Paris
A Monop' location in Paris

Monoprix S.A. (French pronunciation: [mɔnɔpʁi]) is a major French retail chain with its headquarters in Clichy, Hauts-de-Seine, France, near Paris.[1] The company's stores combine food retailing with fashion, beauty and home products.

History

The company was founded in 1932 in

Theophile Bader, the founder of Galeries Lafayette.[2]

In 1991, Monoprix acquired the Uniprix brand after Galeries Lafayette took over Nouvelles Galeries, the parent of Uniprix.[citation needed]

In 1997, the chain merged with French retailer

Casino Group acquire a 21% stake in the merged company.[3]

In 2000, Galeries Lafayette, entered into an agreement to sell a 50% interest in Monoprix. Casino Group provided Galeries Lafayette with a put option to sell the remaining 50%. In 2012, after legal wrangling over the value of the put option, the shareholders of both firms agreed on a sale price of $1.6 billion (€1.2 billion).[4] The Autorité de la concurrence, France's competition regulatory body, approved the transaction in 2013, with the condition that the merged group sell 58 stores. This allowed the deal to close, making Monoprix a wholly-owned subsidiary of Casino Group.[5]

In 2023, Monoprix's parent Casino announced that they have completed a deal to avoid bankruptcy. This restructuring procedure would allow for the company to cut high debt and improve recent losses to other rival supermarket corporations.

Chapter 15 bankruptcy.[7]

Monoprix currently has more than 700 shops in total: most under the Monoprix brand, but also smaller Monop', Monop' Daily, Monop' Station, Monop' Beauty, and Naturalia formats.[8] It has a presence in over 250 towns and cities in France and employs around 21,000 people.

Monoprix in Popular Culture

In 1966, in the song "Les Élucubrations d'Antoine", the singer Antoine sings the lyrics "Put the pill on sale in the Monoprix."[9]

In 1979, Alain Bashung performed "Y'a un yeti", whose lyrics, written by Boris Bergman, included: "Y'a un yeti dans l'Monoprix".[10]

In Michel Houellebecq's book "The Elementary Particles", the line "He ate a Monoprix TV dinner--monkfish in parsley sauce" appears.[11]

See also

References

  1. ^ "Informations légales Archived 2010-02-09 at the Wayback Machine." Monoprix. Retrieved on 4 February 2010. "Siège social : 14 - 16 rue Marc Bloch 92116 CLICHY Cedex"
  2. ^ O'Connor, Clare (26 November 2013). "High Fashion, Nazi Plunder And Family Feuds: Retail's Newest Billionaire Has Quite A Story". Forbes.
  3. ^ Jones, Terril Yue (20 April 1998). "Eat or be Eaten". Forbes.
  4. ^ Daneshkhu, Scheherazade (29 June 2012). "Casino and Lafayette end Monoprix fight". Financial Times.
  5. ^ Daneshkhu, Scheherazade (13 July 2013). "French watchdog approves Casino's takeover of Monoprix". Financial Times.
  6. ^ "French retailer Casino finalises rescue deal led by Czech tycoon". Reuters. 5 October 2023. Retrieved 17 February 2024.
  7. ^ "Groupe Casino: Proceedings for recognition of financial restructuring in the United States (Chapter 15)". Yahoo! Finance. 16 February 2024. Retrieved 17 February 2024.
  8. ^ "Nos enseignes" [Our brands] (in French). Monoprix. Retrieved 4 June 2021.
  9. ^ "PAROLES DE LA CHANSON LES ELUCUBRATIONS D'ANTOINE PAR ANTOINE". Archived from the original on 3 April 2024. Retrieved 7 April 2024.
  10. ^ "Y'a Un Yéti". Genius.com. Retrieved 3 April 2024.
  11. ^ "Excerpt From The Elementary Particles". Penguin-Random House Canada. Archived from the original on 3 April 2024. Retrieved 7 April 2024.

External links

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