The distributor Carrefour will acquire 30 “cash and carry” stores of the Makro brand in Brazil for around 420 million euros, he announced this Sunday in a press release.
Cash and carry stores, which often take the form of warehouses, allow customers to buy in bulk, and therefore at low cost, and in self-service. “The transaction involves 30 stores (including 22 fully owned and 8 rented stores) and 14 service stations, located in 17 Brazilian states, for a price of 1.95 billion Reais (approximately 420 million d ‘euros), paid in cash, “said the group’s press release.
The group plans, within twelve months of the completion of the transaction, to convert these stores under its own Brazilian brand of “cash and carry” Atacadao, bought in 2007 and which is recording good performances.
Biggest operation in Brazil since 2007
“The new stores will be added to the existing network of 187 Atacadao stores”, with which they offer “strong geographic complementarity”, added the press release. This acquisition will notably allow Atacadao to strengthen its position “in the densely populated state of Rio de Janeiro (7 stores) and in the Northeast region (8 stores)”, he specifies. Across Latin America, the group had 182 cash and carry stores at the end of June.
“This transaction is the most significant carried out by the Carrefour group in Brazil since the acquisition of Atacadao in 2007. It underlines our desire to expand in our growth formats, in line with the Carrefour 2022 transformation plan. With this transaction , we are strengthening our presence on the Brazilian market, the group’s second market after France, “said Alexandre Bompard, CEO of Carrefour, quoted in the press release.
“Combined with our organic growth, with 20 new Atacadao stores opened in 2019, this acquisition corresponds to a year and a half of expansion and marks a major advance for Grupo Carrefour Brasil”, noted for its part in the document Noël Prioux, director General of Grupo Carrefour Brasil, the French group’s subsidiary in the country.
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