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Carrefour acquires 30 Makro stores in Brazil

2020-02-16T13:53:42.297Z

Carrefour plans to increase its turnover by more than 60% in the country, which is the group's second market after France.



On Sunday, the Carrefour group announced that its Brazilian subsidiary Grupo Carrefour Brasil has signed an agreement with Makro Atacadista SA for the acquisition of 30 Cash & Carry stores located in 17 Brazilian states, for a price of 1.95 billion Reais ( or approximately 420 million euros), paid in cash.

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With this acquisition Carrefour is thus accelerating the expansion of its buoyant format Atacadão. These 30 stores, totaling more than 165,000 m² of sales area, achieved a total turnover of around 2.8 billion Reais in 2019 and offer strong geographic complementarity with the existing Atacadão network. Carrefour plans to convert these stores under its own Atacadão brand within 12 months of the completion of the transaction. In this way, customers will be able to benefit from the Atacadão prices and offer, and the successful financial services of Grupo Carrefour Brasil.

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Based on the Atacadão model, Carrefour plans to increase turnover by more than 60% and optimize the cost structure, making it possible to gradually achieve profitability close to that of the existing Atacadão fleet.

Alexandre Bompard, Chairman and CEO of the Carrefour group, said: “ This transaction is the largest by the Carrefour group in Brazil since the acquisition of Atacadão in 2007. It underlines our desire to expand in our growth formats , in line with the Carrefour 2022 transformation plan. With this transaction, we are strengthening our presence on the Brazilian market, the group's second market after France. "

Source: lefigaro

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