Carrefour’s Brazilian subsidiary has made a deal with Makro Atacadista SA to acquire 30 cash and carry stores, in a transaction valued at 1.95 billion Reais ($450 million).
The deal will include 30 stores and 14 gas stations located in 17 states across Brazil.
With the acquisition, Carrefour is accelerating the expansion of its growing Atacadão format, notably in Rio de Janeiro (7 stores) and in the Northeast region (8 stores).
The 30 stores, totalling 165,000 square metres of sales area, will add to Atacadão’s existing network of 187 stores. According to Grupo Carrefour Brasil, the stores posted gross sales of around 2.8 billion Reais ($650 million) in 2019.
Following the deal, Carrefour plans to convert these stores to its Atacadão banner, enabling its clients to benefit from Atacadão’s prices and Grupo Carrefour Brasil’s financial services.
Carrefour also expects sales to increase by more than 60% following the transaction.
Alexandre Bompard, chairman and CEO of Carrefour Group, said: “This transaction is Carrefour Group’s most significant move in Brazil since the acquisition of Atacadão in 2007.
“It underscores our strong commitment to expanding our growth formats, in line with the Carrefour 2022 Transformation Plan. With this transaction, we further expand our presence in the Brazilian market, the group’s second-biggest after France.”
Noël Prioux, CEO of Grupo Carrefour Brasil, added: “With this acquisition, Atacadão will strengthen its footprint and further consolidate its presence in Brazil.
“Combined with our organic growth pace, with 20 new Atacadão stores opened in 2019, this acquisition corresponds to one year and a half of expansion and is a significant step for Grupo Carrefour Brasil.”
Closing of the transaction is subject to certain customary conditions including approval by CADE, Brazil’s anti-trust authority.
© FoodBev Media Ltd 2020
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