AnaCap in talks with Carrefour for majority stake in Market Pay
AnaCap Financial Partners has entered into exclusive negotiations for the purchase of a 60% stake in Market Pay from Carrefour.
The deal, valued at around €300 million, is expected to complete in H1 2021 and would see Carrefour retaining a minority stake in the omnichannel payments platform.
The aim is to commercialise the offering outside the French retail giant. Nassim Cherchali, Partner for M&A at AnaCap, comments: “Market Pay is uniquely positioned at the heart of the deep, fragmented and rapidly developing European payments ecosystem, benefiting from the consumer shift from cash to card and offline to online.”
“AnaCap is uniquely positioned to support the management team and internationalise into new markets across Europe, investing in and securing franchise growth while also implementing our best in class technology practices.”
Frédéric Mazurier, Chairman at Market Pay, says: “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 and we look forward to, pending completion, an exciting new chapter for the company in 2021 and beyond.”
