Private equity fund AnaCap has entered into exclusive negotiations for the purchase of a majority stake in Market Pay, the omnichannel payments arm of french supermarket chain Carrefour, in a deal valued at close to €300 million.
Market Pay was created in 2016 and supports a volume of 1.3 billion transactions, the management of 45,000 terminals and five million cards issued. Currently in operation at stores in France, Belgium, Spain and Italy, the transaction will see Market Pay extended beyond the Carrefour group and into new international markets.
The deal, expected to complete in H1 2021, would see Carrefour retaining a minority stake in a working partnership to commercialise the offering and diversify its product lines.
The transaction represents AnaCap’s first investment in the French payments ecosystem, following eight acquisitions in the DACH region as part of a buy and build strategy centred around heidelpay, a German payments business that was sold to KKR last year.
Frédéric Mazurier, chairman at Market Pay, comments: “The Carrefour Group were keen to partner with a company that had a strong track record both in the payments sector and in growing fintech businesses internationally with innovative operational strategies. We believe that AnaCap represent the perfect choice to help us develop and explore new markets outside of the Carrefour Group"