CHILE/BRAZIL: Cencosud buys Brazilian supermarket chain Prezunic
Chilean retailer Cencosud has acquired Brazilian supermarket chain Prezunic for BRL685.7m (US$385.5m).
Cencosud said the deal, which be effective from 2 January, meant it would enter the state of Rio de Janeiro, which it described as "one of the most important states in Brazil".
Prezunic owns 31 supermarkets and a distribution centre. Cencosud, which described Prezunic as "one of the leading supermarket chains in the state of Rio de Janiero", said the retailer had generated BRL2.45bn in sales in 2010 and was projected to have sales of BRL2.6bn this year.
Cencosud entered Brazil in 2007 with the acquisition of the GBarbosa chain. In 2009, Cencosud snapped up another Brazilian supermarket retailer Bretas. Last year, it acquired deli retailer Perini.
Chilean retailer Cencosud saw sales and profits increase from its supermarkets division in 2011....
- Rabobank's early view on Brexit impact on food
- How local model protects Nestle - interview
- Quorn Foods confident in prospects - interview
- Brexit sparks uncertainty for UK food - comment
- Nestle's focus on food for health - interview
- Nestle names new CEO
- Brexit – Live reaction from food industry
- Healthier food a major opportunity for food makers
- Brexit – UK farmers warn of food price spike
- Brexit – US confirms commitment to TTIP with EU
- Frozen Bakery Products Market by Type, Distribution Channel, & by Region - Global Trends & Forecast to 2020
- Top Trends in Snacks, Confectionery, and Desserts; Exploring consumer and innovation trends in key categories
- Fast Food in India
- Country Analysis Report: Saudi Arabia, In-depth PESTLE Insights
- Singapore Food and Drink Report Q3 2016