HOLDING ELO

What HOLDING ELO does

Holding Elo (formerly Auchan Holding, renamed in 2018) is a French unlisted Société Anonyme headquartered in Villeneuve d'Ascq that operates as a holding company over three autonomous subsidiaries: Auchan Retail, New Immo Holding, and Oney. The group is owned by a combination of family and employee shareholders with €613,295,660 of share capital and generated approximately €33 billion of revenue across 152,761 employees in 13 countries in 2025.

Auchan Retail is the dominant operating subsidiary and revenue contributor at €32 billion, running a phygital (physical-and-digital) retail model across 2,897 points of sale under the Auchan banner and complementary brands. New Immo Holding is a mixed-use real estate operator that owns 224 shopping centers, manages more than 1,200 commercial sites, and holds €14 billion in real estate assets (€7.1 billion at fair value) across Europe and West Africa, developing and animating retail and living spaces. Oney, in which Elo holds a 49.9% stake (BPCE holds the remaining 50.1%), is a payment, credit, and insurance solutions specialist serving 37,000 retail partners and 6.7 million customers across 10 countries.

The group makes money primarily through Auchan Retail's consumer-goods sales (one-time transactional retail revenue), New Immo Holding's managed-services revenue from real estate operations, and Oney's transaction-fee revenue from payment processing and credit services. In 2025 the group executed a major restructuring: financial autonomy processes were finalised for Auchan Retail and New Immo Holding, a €1 billion 2.875% bond maturing January 2026 was redeemed early, 19 French supermarkets were sold to Lidl, and a cooperation model was announced with Intermarché/Netto for mainland France supermarket operations. S&P rates the parent's long-term debt BB- with a negative outlook (July 31, 2025), reflecting the credit-market view of the restructuring pressure.

Name

HOLDING ELO

Legal name

Elo, Société Anonyme à Conseil d'Administration

Website

https://groupe-elo.com

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Holding Elo is an unlisted French holding company (formerly Auchan Holding) owning three subsidiaries: Auchan Retail (phygital grocery, €32B revenue, 2,897 stores), New Immo Holding (mixed-use real estate, €14B AUM), and Oney (49.9%-owned payments, 37,000 retail partners), serving consumers and merchants across 13 countries with €33B in 2025 group revenue.

Ownership category

akta.pro rank

Headquarters

HQ city

Villeneuve d'Ascq

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Supply Chain, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Auchan Retail: Physical and digital (phygital) retail revenue from sale of consumer goods across 2,897 points of sale under various banners (Auchan and others), supplemented by digital commerce ecosystem. Major revenue contributor at €32 billion.
2. New Immo Holding: Mixed-use real estate operator revenue from managing, developing, and transforming commercial sites including 224 shopping centers. Assets under management valued at €14 billion with €7.1 billion in real estate assets at fair value.
3. Oney (49.9% owned by Elo): Payment, credit, and insurance solutions specialist serving 37,000 retail partners and 6.7 million customers. Revenue generated from payment processing, credit solutions, and financial services.

Go-to-market motion1 record

Distribution channels4 records

Core offering

Elo Group is a privately held French holding company that oversees three autonomous subsidiaries with complementary businesses: Auchan Retail (phygital retail combining physical stores with a digital ecosystem across 2,897 points of sale in 13 countries), New Immo Holding (mixed-use commercial real estate operator managing 1,200+ sites and 224 shopping centers across Europe and West Africa), and Oney (payment, credit and insurance solutions serving 37,000 retail partners and 6.7 million customers).

Product overview

Elo (formerly Auchan Holding) is a holding company that unites three autonomous companies with complementary businesses. The group operates as a portfolio of distinct business units: Auchan Retail (phygital retail with €32 billion revenue), New Immo Holding (mixed-use real estate with €14 billion assets under management), and Oney (payment solutions with 6.7 million customers). Each company operates independently with its own focus while sharing the Elo umbrella brand.

Differentiator

Problem solved

Functional benefit

Products and services

• Auchan Retail Phygital retailer combining physical stores with a digital ecosystem, offering exclusive quality products at competitive prices. Operates 2,897 points of sale under various Auchan and partner banners worldwide, with €32 billion in revenues and 151,335 employees.
• New Immo Holding

Quantifiable outcome

• €33 billion in combined revenue across three businesses in 2025
• +5 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered major.

• Intermarché / NettomajorStrategic or Co-development Partner · 25 November 2025Auchan Retail announced development of an innovative cooperation model for the operation of its supermarkets in mainland France under the Intermarché and Netto banners, representing a major strategic shift in its French retail network.
• LidlmajorStrategic or Co-development Partner · 16 July 2025Auchan and Lidl entered into exclusive negotiations for the takeover of 19 supermarkets in France by Lidl. Represents a significant restructuring of Auchan Retail's French store network.

Scale indicators12 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Unibail-Rodamco-Westfield: Europe's largest listed shopping center operator, owner of flagship malls across continental Europe. Directly comparable to New Immo Holding on the commercial real estate and shopping center management side of Elo's portfolio.
• Casino Group: French retail holding company with hypermarket, supermarket, convenience, and e-commerce banners (Monoprix, Franprix, Leader Price) and a substantial real estate subsidiary (Mercialys). Closely comparable to Elo in structure and exposure to the French market undergoing the same discount pressure.
• Aldi: German family-controlled discounter with rapid European expansion, directly squeezing Auchan's hypermarket and supermarket economics. The same family-ownership-plus-discount model that is reshaping French grocery in the way Elo is reacting to.
• Carrefour: French-listed global retailer operating hypermarkets, supermarkets, and convenience stores with an attached property arm (Carrefour Property) and growing fintech/BNPL capabilities. Most direct comparison to Elo on the integrated retail-real-estate-financial services model.
• Tesco: UK-based integrated retailer combining physical supermarkets with digital grocery and a notable property subsidiary (Tesco Property Holdings). Comparable scale and the same retail-plus-property-plus-financial-services structure as Elo.
• Klépierre: Continental European retail property specialist operating shopping centers in 12 countries. Highly comparable to New Immo Holding on footprint (Europe-wide shopping centers), tenant mix, and asset management model.
• Schwarz Group: German family-owned parent of Lidl and Kaufland, one of Auchan's most direct competitors for French market share and a key driver of the price-based pressure forcing Elo's restructuring. Highly relevant on both retail competition and family-controlled holding structure.

Emerging players

• Klarna: Leading global BNPL provider integrating with retail partners at point-of-sale and online, serving millions of consumers. Functionally analogous to Oney's buy-now-pay-later and embedded-finance offering across Elo's retail ecosystem.
• Affirm: US-listed BNPL provider offering installment lending at retailer point-of-sale. Comparable to Oney on product (BNPL, in-store and online credit) and merchant relationships, though Affirm is a specialist rather than a vertically-integrated subsidiary.

Broad incumbents

• Walmart: Largest global retailer with integrated stores, e-commerce, financial services (Walmart MoneyCard, Affirm partnership), and an owned-property portfolio. Comparable on the integrated retail-property-payments thesis that Elo pursues at a much smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about HOLDING ELO