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....
- On the money: Hormel still looking for M&A
- Consuming issues: The hunger-obesity paradox
- On the money: Hain expects continued organic gains
- Analysis: Market bets on higher Chiquita offer
- FMCG sales slowing despite economic green shoots
- Fonterra, Beingmate launch infant formula JV
- Switz rejects EU plea to bypass Russia export ban
- Parmalat nears Lacteos Brasil acquisition
- Mondelez eyes snacks categories in India
- Russian government eases ban on food imports