May 9, 2022 |
Chile's Cencosud, one of the largest retailers in Latin America, said it inked a deal to acquire Brazilian cash-and-carry chain Giga Atacado for BRL500 million ($98.8 million), giving the company a foothold in the state of São Paulo.
Under the deal, Cencosud will buy 100% of Giga BR Distribuidor e Atacadista and its shareholder AFN Participacoes from Grupo Giga, according to a securities filing in Chile.
Giga has 10 stores in the state of São Paulo and generates annual sales of more than BRL1.5
Chilean retailer acquires São Paulo-based cash-and-carry chain Giga Atacado for $99 mln