PRESS RELEASE - Halle (Belgium) - 25 November 2020 (17h45 CET)

Colruyt Group receives approval from

the Belgian Competition Authority to increase

the stake in Fraluc Group

On 3 September 2020 Colruyt Group entered into an agreement to increase its stake in Fraluc Group from 68% to over 96%. Fraluc Group includes the fashion retail chains ZEB, PointCarré, The Fashion Store and ZEB For Stars. The Belgian Competition Authority authorised this transaction on 24 November 2020.

The stake held in Fraluc Group will be fully consolidated as a subsidiary of Colruyt Group as from 1 August 2020 and will no longer be accounted for as a joint venture using the equity method.

Contacts

For questions on this press release or for further information, please send an email to investor@colruytgroup.com or contact Stefaan Vandamme (CFO) or Liesbeth Nuelant (Investor Relations) by phone at +32 2 363 51 11.

About Fraluc Group

Fraluc is a multi-brand fashion chain that evolved from ZEB and today comprises four chains: ZEB, ZEB for Stars, The Fashion Store and PointCarré. The group owns a total of 114 stores, 1 of which is based in France. Fraluc recorded a EUR 166 million revenue in the financial year 2019/20. For more information we refer to Colruyt Group's annual report for the financial year 2019/20 (pages 65 and 276).

About Colruyt Group

Colruyt Group operates in the food and non-food distribution sector in Belgium, France and Luxembourg with approximately 600 own stores and 580 affiliated stores. In Belgium, this includes Colruyt, OKay, Bio-Planet, Cru, Dreamland, Dreambaby, Fiets! and the affiliated stores Spar and Spar Compact. In France, in addition to Colruyt stores, there are also affiliated Coccinelle, Coccimarket and Panier Sympa stores. The group is also actively involved in the foodservice business (supply of food products to hospitals, company canteens and catering businesses) in Belgium via Solucious. The other activities comprise the sale of fuel in Belgium (DATS 24), printing and document management solutions (Symeta) and the production of green energy (Eoly). The group employs over 30.000 employees and recorded a EUR 9,5 billion revenue in 2019/20. Colruyt is listed on Euronext Brussels (COLR) under ISIN code BE0974256852.

Colruyt Group receives approval from the Belgian Competition Authority to increase the stake in Fraluc Group

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Colruyt SA published this content on 25 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2020 17:11:59 UTC