Magazine Luiza bags another startup

Magazine Luiza bags another startup

M&A Corporate & Sovereign Strategy Brazil Latin America

Brazilian retail chain Magazine Luiza said Thursday that it acquired online food delivery platform AiQFome as part of a move into online businesses, marking its fourth acquisition of a digital startup in less than a month. Magazine Luiza, known as Magalu, did not reveal how much it paid for AiQFome, but said the deal fits with the company's strategy to "digitize Brazilian retail" and move away from a bricks-and-mortar retail model. AiQFome does business in small- and mid-sized cities in Brazil a

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