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Mateus Group Completes New Atacarejo Business Combination
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business combination with New Atacarejo, expanding its regional presence. Approved by cade, this deal strengthens Mateus's market position.">
The Mateus Group finalized its business combination with new Atacarejo on Tuesday, July 1, 2025, marking a critically important step in its regional expansion strategy. Through its subsidiaries, Mateus Group now holds 51% of Novo Atacarejo’s capital, while the founding partners of New Atacarejo, NSA, and Ambapar retain the remaining 49%.
Key Details of the Mateus Group and New Atacarejo Deal
The association agreement, initially signed on December 19, 2024, received approval from the Administrative Council for economic Defense (Cade) in February 2025 . This union encompasses attacking, retail, and wholesale operations managed by the Mateus Group across the states of Pernambuco, Paraíba, and Alagoas.
Did You know? The Mateus Group operates over 200 stores across nine states in Brazil, making it one of the largest food retail groups in the North and Northeast regions.
Furthermore, a new shareholders agreement has been established between the Mateus Group and the founding partners. This agreement outlines the political rights of shareholders, particularly concerning the management and administration of New Atacarejo, along with regulations governing the transfer of shares.
Strategic Implications and Future Outlook
According to a statement released on Wednesday, July 2, 2025, by the Mateus Group administration, “The conclusion of the operation represents another critically important step in the company’s regional expansion, aligning with the purpose of contributing to the economic progress of the North and Northeast of the country.”
Itaú BBA analysts anticipate that New Atacarejo will be consolidated into the Mateus Group’s financial results starting in the third quarter of 2025. The Mateus Group will contribute stores, commercial properties, distribution centers in Pernambuco, alagoas, and Paraíba, and R$ 378.5 million in cash for its 51% stake.
Pro Tip: Keep an eye on Mateus Group’s quarterly reports to track the financial impact of the New Atacarejo consolidation.
Analysts led by Rodrigo Gastim at Itaú BBA noted, “More than a growth engine, the joint venture is a very bright defensive play to make it tough for large food retailers to enter the region. We estimate that the transaction will already be positive for profit per share in the first year.” Itaú BBA has reaffirmed its “buy” recommendation for the Mateus Group, setting a target price of $9.
| Metric | Value | Unit |
|---|---|---|
| Mateus Group Stake in Novo Atacarejo | 51 | % |
| Cash Contribution by Mateus group | 378.5 | Million BRL |
| Itaú BBA Target Price for Mateus Group | 9 | USD |
What are the potential long-term benefits of this business combination for consumers in Northeast Brazil?
How might this deal impact the competitive landscape of the food retail sector in the region?
evergreen Insights: The Rise of Regional Retail in Brazil
The Mateus Group’s strategic expansion reflects a broader trend of regional retail consolidation in Brazil. As the country’s economy evolves, regional players are increasingly focusing on strengthening their presence and leveraging local market knowledge to compete effectively against national and international chains. This trend is particularly evident in the North and Northeast regions, where unique consumer preferences and logistical challenges favor companies with established local networks.
furthermore, the approval of the Mateus Group – New Atacarejo deal by Cade underscores the importance of regulatory oversight in ensuring fair competition and preventing monopolies. As more mergers and acquisitions occur in the retail sector, regulatory bodies play a crucial role in safeguarding consumer interests and promoting a level playing field for all market participants.
Frequently Asked Questions About the Mateus Group and New Atacarejo Deal
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