Wal-Mart Brazil acquires Bompreco
March 1, 2004-- Home Textiles Today,
SAO PAULO, Brazil — Wal-Mart Brazil is acquiring Bompreco, a retail chain in northeastern Brazil with 118 units comprised of hypermarkets, supermarkets and mini-markets, said Vincent Trius, president of Wal-Mart Brazil.
Bompreco, formerly owned by Ahold, has more than 20,000 employees, who will become part of Wal-Mart Brazil.
Total value of the transaction is approximately $500 million, Trius said, with about $300 million for the Bompreco assets and about $200 million for Hipercard.
With the acquisition, Wal-Mart Brazil will operate 143 units in the country, including 13 Wal-Mart Supercenters, 10 Sam’s Clubs, two Wal-Mart Todo Dias and the 118 Bompreco hypermarkets, supermarkets and mini-markets.
Trius said Wal-Mart Brazil will remain in its current home office in Sao Paulo, but will retain Bompreco’s headquarters in Recife as its regional base of operations.
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