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.