BRAZIL: Cencosud to acquire Supermercados Bretas
Chilean retailer is set to acquire Brazilian operator Supermercados Bretas
Chile's largest grocery retailer Cencosud has agreed to acquire Brazilian operator Supermercados Bretas, in a deal worth BRL1.35bn (US$808m).
The deal will mean that Cencosud will acquire 62 supermarkets, three distribution centres and 10 service stations.
According to a filing with the Chilean Securities Regulator, Bretas may see sales rise to BRL2.5bn in 2010 from BRL2.1bn in 2009.
"With this strategic acquisition Cencosud enters the states of Minas Gerais and Goias, consolidating its position in Brazilian supermarkets," the statement said.
Chile-based retailer Cencosud has reported a 23.8% rise in 2010 net income on the back of higher sales across its different store formats....
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