Carrefour Market Pay Acquired by AnaCap Financial Partners

French retailer Carrefour has reached an agreement to offload its 60% stake in payment processing arm Market Pay to UK-based AnaCap Financial Partners.

The all-cash deal gives Market Pay an enterprise of approximately €300m ($349.2m).

Carrefour Group will register a capital gain of €245m ($285.1m) in its accounts through the sale of Market Pay.

After the deal completion, the retailer is expected to retain a minority stake in Market Pay.

The food retailer is looking to capitalise on AnaCap’s expertise, which is said to have 15 years of experience in supporting such projects.

Back in 2016, Carrefour teams developed the European payments platform to support its retail operations.

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Since its inception, Market Pay is said to have grown significantly, and this year the company expects to record more than €30m ($34.92m) in net sales.

Market Pay processes 1.3 billion transactions each year across 45,000 payment terminals and five million cards.

It provides end-to-end support for physical points of sale (POS) terminals and in the deployment of payment solutions for e-tailers.

Market Pay chairman Frederic Mazurier said: “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 represents the perfect choice to help us develop and explore new markets outside of the Carrefour Group.”

Carrefour Group has over 12,000 stores in more than 30 countries worldwide. It employs 320,000 people.

Subject to receipt of regulatory approvals and closing conditions, the transaction is expected to be completed in the first half of 2021.