The Rodolphe Saadé family acquires the second largest stake in the French Carrefour Group

 The family of French-Lebanese billionaire Rodolphe Saadé has acquired a stake in Carrefour, becoming the second-largest shareholder in the French supermarket chain and expanding its empire, which already includes logistics, media, and film.

Carrefour announced on Wednesday that the Saadé family, owners of the French shipping and logistics giant CMA CGM, had acquired a 4% stake in the company, representing an investment of approximately €400 million. Rodolphe Saadé will join the board of directors on December 1st.

Saadé, whose wealth has increased dramatically with the surge in shipping profits during the COVID-19 pandemic, stated, "By joining the Carrefour board, I want to... be part of the group's long-term growth."

Carrefour Chairman Alexandre Bompard commented, "Rodolphe Saadé's commitment, vision, and experience will make a significant contribution to our management, the growth of our group, and the creation of value."

Saadé will replace Eduardo Rossi, who represented Peninsula Holdings, owned by the family of Brazilian billionaire Abilio Diniz, who passed away in February 2024.

After becoming Carrefour's largest shareholder in March 2024, Peninsula Holdings recently slipped to second place with an 8.5% stake in the group before ultimately selling its shares.

Galva Holdings, owned by the Moulin-José family, owners of the luxury department store chain Galeries Lafayette, remains Carrefour's largest shareholder with a stake of approximately 9.5%.

This marks the Saadé family's first foray into the supermarket sector, having previously focused on expanding beyond shipping.

In 2022, Rodolphe Saadé acquired the Marseille-based regional newspaper La Provence, where CMA CGM is headquartered, thus establishing a French media group that now includes the newspapers La Tribune and La Tribune Dimanche, as well as BFM TV, Radio Monte Carlo, and the online news site Brut.

In September 2024, CMA CGM announced its acquisition of Santos Brasil, the largest port operator in Brazil.

Brazil is one of Carrefour's key markets, along with France and Spain.

Saadé explained his decision to acquire a stake in Santos Brasil, stating that Brazil is "a country with great potential, where growth is meeting expectations."

Carrefour