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AnaCap In Exclusive Talks With Carrefour Group For Majority Stake In Market Pay

Mid-market buyout firm AnaCap Financial Partners has entered into exclusive negotiations with Carrefour Group for the purchase of a majority stake in Market Pay, an end-to-end omnichannel payments platform. The deal is valued at close to €300mn.

The deal, expected to complete in H1 2021, would see Carrefour retaining a minority stake in what will be a working partnership to commercialise the offering outside Carrefour, diversify product lines and internationalise Market Pay. AnaCap’s proposed ownership would also see Market Pay remain the exclusive payments provider for the Carrefour Group going forward, whilst further diversifying its client base. The transaction is AnaCap’s first investment in the French payments ecosystem, following 8 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.

Nassim Cherchali, Partner for M&A at AnaCap, commented: “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. AnaCap has great experience in the payments space and we are very excited to begin the next phase of growth with Market Pay.”

AnaCap received financial advice from FIG Partners SAS and legal advice from Proskauer Rose LLP. The transaction is subject to the consultation of works council and to the usual closing conditions (including regulatory and antitrust approvals).

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