Not yet a member?Join now!|Lost password
Cencosud SA
Cencosud SA
10/18/2012 | Press release
Press Acquisition Carrefour Colombia
distributed by noodls on 10/19/2012 03:53
Cencosud signs agreement with Carrefour for the acquisition of Carrefour's operations in Colombia
Santiago, Chile, October 18, 2012. - Cencosud announced today, that it had executed an agreement with Carrefour S.A. for the purchase of Carrefour's operations in Colombia for a total enterprise value of 2,000 million Euros.
The transaction includes the purchase of 92 total stores,
including 72 hypermarket stores, 16 convenience stores, and
four cash and carry stores and gas stations. Net sales for
the acquired stores in the last twelve months totaled
1.668 million Euros (including gasoline sales). This is a
strategic acquisition for Cencosud as it becomes the second
largest supermarket operator in Colombia in terms of
sales.
The stores acquired are located in nine of the ten largest
cities in Colombia. Colombia is the second most populous
country in South America, with solid macroeconomic indicators
and interesting growth prospects.
The transaction is expected to close on or before December
31, 2012. "W e are extremely proud to have achieved one
of the greatest desires of
Cencosud: the entrance into the Supermarket segment in
Colombia. This marks one of the major milestones in the
history of our company.
W e are not only acquiring a great operation, but we are
entering an extraordinary market, which would not have been
possible through organic growth. W e give a warm welcome to
our new Cencosud employees in Colombia.
W e also appreciate the great confidence that the Carrefour
group has placed on us as the new operators of a great
supermarket chain." indicated Horst Paulmann, chairman of
Cencosud.
Cencosud S.A., is a leading company in the Latin-American retail industry, with operations in Argentina, Brazil, Chile, Colombia y Peru. Cencosud currently operates 736 hypermarket and supermarkets, 82 home improvement stores, 26 shopping centers and 76 department stores, directly employing over 140,000 people.
