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.
Related Content By Author
Industry Related Content
Northwest plays cameo on GMA