Carrefour has acquired thirty Makro stores in Brazil and further strengthens its position in what is for the French group a hugely important market.
30 out of 54 stores
Unlike what was rumoured last week, however, the French group is not buying all 54 Makro stores in Brazil: it pays 1.95 billion reals (420 million euros) for 30 stores, says Reuters, leaving 24 others in the rich Sao Paulo state in Dutch hands. The move should increase Carrefour’s market share in Brasil, while rendering Metro’s activities in the country more profitable.
Unlike its European counterparts, Makro’s 165 South-American stores are still part of the Dutch SHV group, which founded the retail chain in the 1960s. The split of both branches took place in 1998, when SHV sold its European stores to the German Metro group.