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Cencosud continues its purchases of supermarkets in Brazil

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Brazil
Tuesday 15 November 2011

MD

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The supermarket chain Prezunic would be the next target of Cencosud which continues its expansion in Brazil.

The Chilean chain Cencosud continues its expansion in Brazil and would be about to buy the supermarket chain Prezunic, which operates in the region of Rio de Janeiro.


 
According to local press, Censosud is finalizing the agreement to buy the chain Prezunic, sixth distributor in Brazil. Prezunic owns 30 supermarkets in Rio, its sales reached 1.4 billion USD last year. The amount of the transaction is not known but analysts estimate it at $ 430 million.


 
This purchase would be the seventh of Cencosud in Brazil after GBarbosa, Perini, Mercantil Rodrigues, Super Familia, Bretas and Cardoso. Cencosud is the third largest retail chain in Latin America, with annual sales of 9.1 billion dollars, behind Companhia Brasileira de Distribuicao SA and Wal-Mart.
 

 

 

source : nasdaq