When was French retailer 'Monoprix' founded?
'Monoprix' is a major French retail chain with its headquarters in Clichy, Hauts-de-Seine, France, near Paris. The company's stores combine food retailing with hardware, clothing, household items and gifts.
The company was founded in 1932 in the town of Rouen by Max Heilbronn, a son-in-law of Theophile Bader, the founder of Galeries Lafayette. In 1997, the chain merged with French retailer 'Prisunic', in a deal that saw Casino Group acquire a 21% stake in the merged company.
In 2000, 'Galeries Lafayette', entered into an agreement to sell a 50% interest in 'Monoprix'. Casino Group provided 'Galeries Lafayette' with a put option to sell the remaining 50%.
The 'Monoprix' group had more than 300 stores and employed around 20,000 people in France at the end of 2008. 'Monoprix' is present in approximately 85% of all French towns with a population of more than 50,000.