Casino Guichard-Perrachon ECONOMIC

Target: Casino, Guichard-Perrachon SA, operating under the Plesio group identity since 20 October 2026. ¹

Evidence cut-off: 23 October 2026.

Corporate context: Casino’s March 2024 restructuring transferred control to France Retail Holdings, ultimately controlled by Daniel Křetínský, while its principal disclosed activities concern retail, e-commerce, franchising and related services. ^{2, 3}

Supply Chain & Sourcing Relationships

Direct supplier relationships

Casino operates grocery retail businesses under Casino, Monoprix, Franprix, Naturalia, Spar and Vival, providing several corporate channels through which food and consumer goods reach customers. ⁴

Monoprix’s corporate description identifies fresh food, grocery, private-label merchandise and other consumer-product categories. ⁵

Naturalia’s corporate description identifies specialist organic-food retailing, including own-brand products. ⁶

No public evidence identified establishing a direct procurement contract between Casino or these subsidiaries and Mehadrin, Hadiklaim, Galilee Export or Agrexco successors in the reviewed corporate disclosures. ⁷

No public evidence identified establishing specific purchases of Israeli-origin Medjool dates, avocados, citrus, herbs or potatoes by a named Casino subsidiary in the reviewed brand and procurement disclosures. ^{4, 7}

RiLBiTE - reported 2023 supplier relationship

RiLBiTE identifies itself as a food-manufacturing business headquartered in Ashdod, Israel, producing plant-based meat alternatives. ⁸

[pre-2020] The company’s public profile identifies 2018 as its founding year. ⁸

In April 2021, The Jerusalem Post reported that RiLBiTE and Bio Meat Foodtech had developed a plant-based chicken alternative and described plans for a manufacturing facility in Ashdod. ⁹

The identified manufacturing plans establish an Israeli production connection but do not establish the manufacturing origin of any particular product subsequently distributed in France. ⁹

No public evidence identified in the successfully retrieved supplier and Casino corporate materials independently confirming the precise launch date, contracted store coverage, shipment quantities or completed Monoprix sales for RiLBiTE products during October–November 2023. ^{5, 8, 9}

No public evidence identified establishing a continuing RiLBiTE–Monoprix supply relationship during 2024, 2025 or 2026 in the successfully retrieved records. ^{5, 8}

Redefine Meat - April 2024 retail distribution

On 23 April 2024, French agricultural trade publication AGRA reported that Israeli food-technology company Redefine Meat was launching plant-based meat alternatives through Monoprix stores in the Île-de-France region. ¹⁰

The reported retail range comprised three chilled-store references and two additional online references, including plant-based beef mince, burgers, pulled-pork alternatives, pulled-beef alternatives and lamb-kofta alternatives. ¹⁰

On 24 April 2024, Linéaires independently reported the launch and identified five product references available through Monoprix. ¹¹

An August 2024 European retail expansion announcement subsequently identified Monoprix as one of Redefine Meat’s retail partners. ^{12, 13}

These dated publications document commercial distribution of products from an Israeli food-technology company through a Casino-controlled retail brand during 2024. ^{5, 10, 12}

Manufacturing origin of Redefine Meat products

AGRA reported in April 2024 that Redefine Meat’s European manufacturing facility in the Netherlands was supplying the European retail market, including its French expansion. ¹⁰

The reported Netherlands production facility had a stated annual production capacity of approximately 5,000–7,000 tonnes. ¹⁰

The available reporting therefore distinguishes Redefine Meat’s Israeli corporate origin from the Netherlands manufacturing location reported for its European retail products. ¹⁰

No public evidence identified establishing that individual Redefine Meat products sold through Monoprix were manufactured in Israel or in Israeli settlements. ^{10, 13}

Importer-of-record structure

Casino’s 2024 corporate disclosures identify Achats Marchandises Casino and other procurement entities within the group structure. ⁷

ExtenC, the group’s international-development business, describes franchising and private-label product supply as part of its business model. ¹⁴

No public evidence identified establishing that either entity acts as an importer of record for goods originating in Israel or Israeli settlements. ^{7, 14}

No public evidence identified establishing the importer of record for the specific RiLBiTE or Redefine Meat products associated with Monoprix. ^{5, 10}

Seasonal sourcing

No public evidence identified documenting recurring December–April purchasing patterns for Israeli agricultural products by Casino, Monoprix, Franprix or Naturalia in the reviewed business disclosures. ^{5, 6, 15}

The dated 2024 Redefine Meat launch concerns manufactured plant-based meat alternatives rather than the seasonal fresh agricultural categories specified for this audit. ¹⁰

Indirect sourcing and distribution

Cdiscount operates an online marketplace with independent third-party sellers and identifies Octopia and C-Logistics among its associated businesses. ¹⁶

The reviewed corporate description does not identify a specific Israeli seller or settlement-origin product transaction. ¹⁶

The Redefine Meat–Monoprix distribution relationship establishes a named Israeli food-technology company supplying a Casino retail channel, although the opened evidence does not establish the precise wholesaler or importer used. ^{10, 12}

No public evidence identified establishing additional Israeli-origin product supply through a named third-party distributor, reseller or white-label arrangement. ^{16, 17}

International franchise channels

ExtenC reports relationships with more than 70 partners across 60 territories and more than 350 stores carrying group brands outside mainland France. ¹⁴

Its disclosed international activities include expansion in Africa, French overseas territories, the Middle East and Asia. ¹⁴

No public evidence identified establishing a named Israeli franchisee, Israeli franchise territory, West Bank settlement franchise or Golan Heights retail outlet within the reviewed ExtenC disclosure. ¹⁴

The AGRA article by Cyril Bonnel currently displays 23 April 2024 as its publication date, directly supporting the date recorded for source 28. Its text describes an imminent launch rather than completed Monoprix availability. Although the audit previously encountered a displayed date of 1 October 2024, the accessible article provides no visible amendment notice, republication explanation or revision chronology accounting for that discrepancy. ¹⁰

April–October 2024 - no public evidence identified: searches for the AGRA article title, author, 23 April and 1 October publication dates, and archived copies did not establish an original publication record documenting a subsequent amendment or republication. The Wayback Machine archival URL could not be retrieved. The currently accessible AGRA article supports 23 April 2024, while Linéaires independently published its report on 24 April 2024. ^{10, 11}

AGRA’s 23 April report identifies three planned refrigerated Monoprix store references in Île-de-France: plant-based beef mince, pulled pork and beef burgers. Two additional references were designated for online sale: pulled beef and lamb kofta. Its prospective wording places the intended commercial introduction within the following days, without establishing completed shelf availability on 23 April. Linéaires reported on 24 April that five references were available, although its accessible text does not independently establish the availability date or distinguish the physical and online assortments. The Linéaires page identifies a subsequent modification dated 13 March 2025. ^{10, 11}

Product Origin, Labeling & Regulatory Compliance

Applicable origin-labeling framework

[pre-2020] On 12 November 2019, the Court of Justice of the European Union issued its judgment in Case C-363/18 concerning food products originating in territories occupied by Israel. ¹⁸

The judgment held that foodstuffs originating in those territories must identify their territory of origin and, where applicable, their provenance from an Israeli settlement. ¹⁸

The judgment addressed the interpretation of EU food-information legislation and did not make findings about Casino’s compliance. ¹⁸

Settlement-origin products

No public evidence identified in the reviewed Casino, Monoprix, Naturalia and Franprix materials establishing that a specific product marketed by the group originated in an Israeli settlement. ^{5, 6, 15, 19}

No public evidence identified establishing that Casino sold a named settlement-origin product under an incorrect Israeli country-of-origin declaration. ^{5, 6, 18}

The identified Redefine Meat distribution relationship concerns products developed by an Israeli company, while the supplier’s European manufacturing location was reported as being in the Netherlands. ¹⁰

No public evidence identified establishing Israeli settlement-origin ingredients, manufacturing or packaging for the products supplied to Monoprix by Redefine Meat. ^{10, 13}

RiLBiTE product origin

RiLBiTE identifies Ashdod, Israel, as its headquarters, while 2021 reporting described development of a manufacturing facility in that city. ^{8, 9}

No public evidence identified establishing the customs-origin classification, manufacturer address or production site of any specific RiLBiTE product reportedly distributed through Monoprix in 2023. ^{8, 9}

Regulatory actions

No public evidence identified in the reviewed corporate and regulatory materials establishing a Casino-specific French enforcement action for mislabeling settlement-origin foodstuffs. ^{18, 20}

The 2019 CJEU judgment establishes the applicable legal distinction but is not evidence of a Casino regulatory violation. ¹⁸

Corporate labeling policy

The group’s public descriptions of its brands and product activities discuss retail formats, private-label merchandise and consumer offerings. ^{4, 5, 6}

No public evidence identified in these reviewed disclosures of an express Casino group policy specifically addressing sourcing or country-of-origin labeling for Israeli settlement-produced goods. ^{4, 5, 6}

Private-label controls

[pre-2020] Casino’s history records the development of distributor-branded products in 1901 and company production facilities in 1906. ²¹

Its modern brands continue to describe private-label products as part of their retail offerings. ^{5, 6}

No public evidence identified establishing a Casino private-label manufacturer located in an Israeli settlement. ^{5, 6, 7}

Investment, Capital & Financial Exposure

Direct investments

Casino’s accessible corporate-history and financial disclosures describe investments in French retail, international grocery retail, e-commerce and related operating activities. ^{21, 22}

No public evidence identified establishing a direct Casino acquisition, factory investment, property investment, logistics centre or data-centre investment in Israel or occupied territory. ^{7, 21, 22}

Acquired Israeli operating subsidiaries

The group’s disclosed historical acquisitions include Monoprix, Franprix, Leader Price, Naturalia and Cdiscount, alongside historical investments in Latin American retail businesses. ²¹

No public evidence identified in the reviewed consolidated-company and corporate-history disclosures of an Israeli-incorporated operating business acquired or controlled by Casino. ^{7, 21}

Neither the reported RiLBiTE relationship nor the documented Redefine Meat retail distribution relationship establishes Casino ownership of those suppliers. ^{5, 8, 10}

No public evidence identified establishing Casino acquisition consideration, controlling ownership percentages, Israeli manufacturing subsidiaries, subsidiary employee numbers or subsidiary revenue relating to either Israeli food-technology business. ^{7, 21, 10}

No public evidence identified of Casino acquiring any other Israeli operating company in the reviewed corporate disclosures. ^{7, 21}

Research and development

Casino’s corporate history records technology-related commercial developments, including e-commerce activities and a partnership with Ocado in 2017. ²¹

No public evidence identified establishing an Israeli Casino-owned research facility, innovation laboratory, accelerator, technology-development centre or Israeli Innovation Authority programme. ^{21, 23}

The Redefine Meat distribution relationship concerns retail access to products developed by another company and does not establish Casino ownership of that company’s intellectual property or research facilities. ^{10, 24}

Parent and controlling ownership

Casino completed its financial restructuring on 27 March 2024 following court approval of its accelerated safeguard plan. ²

The restructuring resulted in a change of control to France Retail Holdings S.à r.l., ultimately controlled by Daniel Křetínský. ^{2, 25}

The 2025 annual general meeting documentation records France Retail Holdings holding 53.04% of Casino and Trinity directly holding 10.05% at the relevant reporting point. ⁷

The ownership restructuring involved EP Equity Investment III, Fimalac and Attestor in the investment consortium. ^{2, 7}

The April 2025 meeting documentation also describes the transfer of Trinity’s holding in France Retail Holdings to an entity ultimately controlled by Daniel Křetínský. ⁷

These ownership records document control of Casino but do not themselves establish an Israeli beneficial owner or an Israeli investment by the controlling entities. ^{2, 7}

No public evidence identified establishing a material Israeli operating investment attributable to Casino’s controlling shareholders in the reviewed ownership disclosures. ⁷

Portfolio investments and government securities

Casino’s financial disclosures primarily describe its retail operations, restructuring transactions and financing arrangements. ^{22, 26}

No public evidence identified in the reviewed financial disclosures of Casino holding Israeli sovereign bonds, Israel Bonds, an Israel-focused fund or a material direct equity portfolio of Israeli companies. ^{22, 26}

Financial-sector activities

Cdiscount is identified as an e-commerce operation associated with marketplace services, logistics and advertising activities. ¹⁶

No public evidence identified of Casino or its disclosed retail subsidiaries acting as underwriters of Israeli sovereign debt, distributors of Israel Bonds, insurers of settlement activity or lenders to Israeli defence contractors. ^{7, 16, 26}

Controlling principals

Casino’s governance disclosure identifies Philippe Palazzi as CEO, Laurent Pietraszewski as chair and several directors and non-voting directors with backgrounds in retail, investment management, public administration and corporate finance. ²⁷

Philippe Palazzi’s disclosed professional relationships include Correlation Partners, Lactalis, Metro Group and a non-executive directorship at Unifrutti Investment Limited. ²⁷

Branislav Miškovič and Martin Plavec have disclosed professional relationships with EP Group, while Thomas Piquemal has disclosed professional relationships with Fimalac. ²⁷

No public evidence identified in the reviewed biographies establishing material personal or family-office investments by these individuals in Israeli operating companies, defence manufacturers or settlement enterprises. ²⁷

No public evidence identified of a controlling principal personally financing RiLBiTE or Redefine Meat through the disclosed Casino governance and ownership materials. ^{7, 27}

Operational Presence & Market Activity

Physical footprint

Casino’s current corporate presentation describes a retail business concentrated in France, operating through its convenience-store brands and Cdiscount. ²⁸

The group reports nearly 6,500 sales outlets and more than 24,000 employees in its current corporate presentation. ²⁸

The presentation describes approximately 85% of sales outlets as franchised or operated through leasehold arrangements. ²⁸

No public evidence identified in the reviewed operational disclosures establishing a Casino-owned store, office, warehouse, manufacturing facility or service centre in Israel or occupied territory. ^{14, 28}

Israeli supplier presence in French stores

The April 2024 Redefine Meat launch placed products developed by an Israeli food-technology company into Monoprix’s French retail distribution channels. ^{10, 11}

The reported initial physical-store distribution concentrated on Monoprix outlets in the Île-de-France region, with additional product references available online. ¹⁰

The August 2024 European expansion announcement again identified Monoprix among Redefine Meat’s participating retail partners. ¹²

No public evidence identified establishing that Redefine Meat operated a Casino-owned Israeli sales facility as part of this distribution relationship. ^{28, 10}

International operations

ExtenC provides international franchising and product-supply services through local partners. ¹⁴

The company’s reported geographical coverage spans 60 territories, although its public overview does not provide a complete country-by-country list of the commercial relationships described. ¹⁴

No public evidence identified in the reviewed disclosure establishing Israeli tax registration, a named Israeli retail partner or an Israeli operating subsidiary of Casino. ^{14, 28}

Workforce and taxation

The group’s disclosed workforce exceeds 24,000 employees globally. ²⁸

No public evidence identified in the reviewed group disclosures of Israel-specific employee numbers, payroll expenditure or corporate income-tax payments. ^{28, 29}

Market positioning

Casino’s corporate presentation describes the group as a major participant in French convenience retail and non-food e-commerce. ²⁸

Its 2025 operating commentary emphasizes convenience formats, store concepts, private-label retailing and Cdiscount marketplace development. ³⁰

No public evidence identified of Casino characterizing Israel as a strategic growth market, major export market, research hub or national operating centre in these disclosures. ^{28, 30}

Settlement operations

The group’s disclosed French retail formats include Franprix, Casino, Spar, Vival, Monoprix and Naturalia. ⁴

No public evidence identified establishing that any named Casino-controlled outlet or franchise operates in a West Bank settlement, East Jerusalem settlement or Golan Heights settlement. ^{4, 14}

No public evidence identified of a documented Casino settlement-related operation continuing after 19 July 2024 or after November 2024 in the reviewed operational and financial disclosures. ^{14, 30}

A 24 May 2024 Capital interview provides direct retrospective confirmation from Redefine Meat executive Edwin Bark that its products had been present in Monoprix stores in Île-de-France since April 2024. The interview independently identifies three physical-store products - beef mince, pulled pork and hamburgers - and two online products - pulled beef and lamb kofta. This substantiates implementation of the previously announced distribution arrangement by May 2024, including its intended distinction between store and online assortments. It does not identify the precise first-sale date, participating store count or individual transaction records. ³¹

The 24 May 2024 interview also distinguishes completed regional availability from planned national expansion. Bark expressed an ambition to obtain listings across all Monoprix stores by the end of 2024, confirming that nationwide coverage remained prospective at the interview date. He reported an approximately 40% repeat-purchase rate, without providing underlying sales data or a Monoprix-specific measurement methodology. ³¹

Independent reporting dated 10 July 2024 stated that Redefine Meat had distributed five references through Monoprix since April. Frozen Food Europe subsequently identified Monoprix among Redefine Meat’s European retail partners on 1 August 2024, and Food Manufacture reported on 2 August that the products were available through Monoprix. Together, these publications corroborate a commercial relationship extending beyond the initial April announcement, although neither August publication verifies the continued availability of each individual product reference or identifies participating French stores. ^{32, 12, 13}

On 30 September 2024, Monoprix itself publicly identified Redefine Meat among six suppliers participating in a plant-based food promotion involving demonstrations and tastings across ten Monoprix stores during the following week. The retailer also advertised promotional offers running until 6 October 2024. This provides primary-source evidence of Redefine Meat’s inclusion in a subsequent Monoprix commercial promotional programme. Because the announcement preceded the activities, it establishes their scheduling and promotion rather than independently verifying that every scheduled demonstration occurred. ³³

Corporate Structure & Foundational Ties

Founding history

[pre-2020] Casino traces its origins to 1898, when Geoffroy Guichard founded Société des Magasins du Casino et Établissements Économiques d’Alimentation in France. ²¹

[pre-2020] The group’s history records its subsequent development through French retail operations and international acquisitions. ²¹

The company was established in France rather than Israel. ²¹

Corporate domicile

Casino’s 2024 registration-document announcement identifies its headquarters at 1 Cours Antoine Guichard, Saint-Étienne, France. ²⁰

The current governance disclosure identifies Casino, Guichard-Perrachon as a French company with a board of directors. ²⁷

No public evidence identified establishing an Israeli headquarters, dual headquarters or Israeli corporate tax residence for the target. ^{20, 27}

Group identity

On 20 October 2026, Casino Group announced its adoption of the Plesio identity. ¹

The announcement identifies Monoprix, Casino, Spar, Vival, Cdiscount, Franprix and Naturalia as the seven brands gathered under the new identity. ¹

The group-identity change does not establish an Israeli corporate domicile or Israeli acquisition. ¹

Governance structure

The company’s governance disclosure states that it follows the French Afep-Medef listed-company governance code. ²⁷

The board consists of seven directors, with two additional non-voting directors identified in the governance disclosure. ²⁷

The board chair is Laurent Pietraszewski, and the CEO is Philippe Palazzi. ²⁷

The board biography of Laurent Pietraszewski records his previous service in the French government between 2020 and 2022. ²⁷

His historical French government service does not establish Israeli state representation on Casino’s board. ²⁷

Israeli-Nexus factual checks

• Founded in Israel: The documented 1898 founding took place in France. ²¹
• Headquartered in Israel: The corporate headquarters identified in the registration-document announcement is in Saint-Étienne, France. ²⁰
• Israeli tax residency or PTE status: no public evidence identified in the reviewed corporate filings and governance materials. ^{20, 27}
• Israeli beneficial control: The March 2024 restructuring identifies France Retail Holdings and Daniel Křetínský as the relevant controlling parties; no public evidence identified of Israeli control in those disclosures. ^{2, 7}
• Israeli state ownership or government-appointed directors: no public evidence identified in the reviewed corporate governance disclosures. ²⁷
• Israeli national-infrastructure designation: no public evidence identified in the reviewed descriptions of the group’s operations. ^{28, 34}
• Israeli state-linked governance rights: no public evidence identified of an Israeli golden share, Israeli government veto or Israel-specific charter restriction in the reviewed governance documents. ^{7, 27}

Historical group transactions

[pre-2020] Casino’s corporate history records investments in Brazilian and Colombian retail businesses, including GPA and Grupo Éxito. ²¹

Those historical transactions cannot establish present ownership or current Israeli economic exposure. ²¹

Israeli supplier corporate identity

RiLBiTE identifies Ashdod, Israel, as its headquarters and describes itself as a manufacturer of plant-based meat alternatives. ⁸

Redefine Meat identifies its business as the development and production of plant-based alternatives to conventional meat, with its retail expansion documented across European markets. ^{10, 24}

No public evidence identified establishing that either company became a Casino subsidiary or that Casino acquired its Israeli corporate identity, intellectual property or manufacturing facilities. ^{7, 21, 10}

Profit Repatriation & Economic Contribution

Revenue

Casino reported consolidated net sales of €8.260 billion for 2025, representing like-for-like growth of 0.5%. ³⁰

Its fourth-quarter 2025 consolidated net sales were €2.180 billion. ³⁰

The group’s financial-results archive provides annual and interim reporting materials covering its consolidated business. ²⁹

No public evidence identified in the reviewed results disclosures of a separately reported Israeli revenue segment or Israel-attributable consolidated sales figure. ^{29, 30}

Economic scale

The group’s current corporate presentation reports more than 24,000 employees and nearly 6,500 retail outlets. ²⁸

Its published 2025 operating results distinguish convenience-store activities and Cdiscount as significant business components. ³⁰

No public evidence identified establishing a quantified economic contribution by Casino to Israeli gross domestic product, employment, retail activity or taxation. ^{28, 30}

Commercial revenue from Israeli supplier products

The April 2024 Redefine Meat distribution agreement created a documented retail channel through which products developed by an Israeli company were offered to French consumers. ^{10, 11}

The August 2024 distribution announcement continued to identify Monoprix among Redefine Meat’s European retail partners. ^{12, 13}

No public evidence identified establishing Monoprix’s total purchases, gross merchandise sales, supplier payments, retail margins, royalty obligations or net profits attributable to these products. ^{10, 12}

No public evidence identified establishing the precise financial value of the reported RiLBiTE relationship. ^{8, 9}

No public evidence identified establishing the final geographic destination of profits earned from either supplier’s Monoprix distribution activities. ^{10, 12}

Profit repatriation

Casino’s controlling ownership structure changed through the March 2024 financial restructuring. ²

The restructuring documentation identifies France Retail Holdings as the vehicle obtaining control of the French parent. ^{2, 25}

No public evidence identified in the reviewed financial disclosures establishing profits flowing from Casino’s worldwide operations into an Israeli-domiciled parent company. ^{2, 26}

No public evidence identified establishing dividends, royalties, management fees or operating profits being repatriated from a Casino-controlled Israeli subsidiary to France. ^{7, 26}

Financial restructuring

Casino’s 2024 restructuring involved creditor claims, capital increases and changes to its shareholder base. ^{2, 7}

The group’s investor-relations disclosures show that additional discussions concerning its financial structure continued during 2026. ²²

The disclosed borrowing and restructuring transactions do not independently establish the identity of Israeli financial beneficiaries. ^{22, 26}

No public evidence identified in the reviewed restructuring announcements establishing Israeli sovereign-bond investments or financing agreements with an Israeli state entity. ^{2, 22}

State and institutional contribution

No public evidence identified in the reviewed operational and financial disclosures establishing Casino as a designated Israeli strategic employer, critical-infrastructure operator, settlement financier or defence-industry supplier. ^{26, 28, 34}

Constructive-notice chronology

Casino’s relevant corporate ownership restructuring was completed in March 2024, before the 19 July 2024 and November 2024 dates specified for this audit. ²

The reported RiLBiTE–Monoprix relationship concerns 2023 commercial activity, and no independently verified continuing relationship was identified after July 2024 in the retrieved supplier materials. ^{8, 9}

Redefine Meat’s Monoprix launch was documented in April 2024, before 19 July 2024. ^{10, 11}

On 1–2 August 2024, subsequent retail expansion reporting named Monoprix as a Redefine Meat distribution partner, after 19 July 2024. ^{12, 13}

The August 2024 reports establish a public description of an ongoing retail relationship at that date, without disclosing individual shipment dates or contract duration. ^{12, 13}

In June 2025, Redefine Meat announced an updated retail product range for France, Germany and the Netherlands, but did not expressly identify Monoprix as the French distributor for that range. ³⁵

No public evidence identified independently establishing that the specific Monoprix distribution relationship continued after the November 2024 ICC warrants or during 2025–2026. ^{12, 35, 24}

The group’s 2025 results and 2026 corporate disclosures establish continued retail and e-commerce operations after those dates. ^{1, 30}

No specific Israeli settlement-related economic activity by Casino was verified for attribution to either subsequent period. ^{14, 29, 30}