Brazilian retailer CBD is eyeing up a number of merger and acquisition opportunities, according to local reports.
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CBC president Claudio Galeazzi told reporters on Monday (5 January) that the retail group was studying “15 different deals”, following the creation of an internal division to specialise in mergers and acquisitions.
Galeazzi said that the global financial crisis and economic downturn would “create opportunities” to negotiate prices with suppliers and acquire “weakened competitors”.
The president gave little detail about the targets but said that some could “expand the group’s footprint” in fuel distribution and pharmacies.
The company said it also plans to open up to 100 new stores in 2009, leveraging its US$620m cash flow.
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By GlobalDataGaleazzi said that the CBD would also take advantage of the crisis to “negotiate better prices” with its domestic and international suppliers.
