Chilean supermarket group Cencosud has said it has signed a deal to buy compatriot supermarket chain Las Brisas for around US$30m.
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The deal is expected to close in several months, reported Dow Jones International News.
Cencosud, which bought Chilean supermarket chain Santa Isabel from Dutch retailer Ahold last year, is Chile’s second-largest supermarket retailer. It will have a 22% share of the market after the purchase of Las Brisas, the company said.
Leading Chilean retailer D&S recently announced it had agreed to purchase the Chilean assets of French retail giant Carrefour, a deal that would give D&S a 33% market share.
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