Petits-fils: Crédit Agricole Santé & Territoires to Acquire Leading Home Care Provider

Crédit Agricole Santé & Territoires, a subsidiary of the Crédit Agricole Group, has announced the successful signing of an agreement to acquire Petits-fils, a leading French home care provider for seniors, from Clariane. The acquisition aims to position Crédit Agricole Santé & Territoires as the premier entity in France's senior home care market. With France's population of individuals over 75 expected to increase by 60% by 2040, and with a majority preferring to live at home, this deal represents a strategic move for Crédit Agricole. Petits-fils holds a significant market position with over 292 agencies nationwide and is noted for its strong growth, client satisfaction, and territorial presence. The transaction, valued at €345 million, would enhance synergies within Crédit Agricole's groups and has limited impact on the CET1 ratio of the Crédit Agricole Group. The completion of this acquisition awaits approval from the French Competition Authority, with closing anticipated in the third quarter. This move is in line with Crédit Agricole's strategy to diversify its offerings, particularly in healthcare and senior care services. The acquisition reflects Crédit Agricole’s ambition to support aging at home and non-medical accommodation, while also planning to establish a national partnership with Clariane to improve access to support and care solutions for caregivers and the elderly.