Wal-Mart buys southern Brazilian chain

BENTONVILLE, Ark. – A decade after entering the Brazilian market, Wal-Mart Stores has purchased 140 hypermarkets, supermarkets and wholesale units from the Sonae retail chain in Porto Alegre, Brazil for approximately $757 million.

Formerly owned by Portuguese group Modelo Continente, Sonae has operations in the southern Brazilian states of Sao Paulo, Rio Grande do Sul, Santa Catarina and Parana, with roughly 20,000 employees.

According to Craig Herkert, president and CEO of Wal-Mart in the Americas, this purchase significantly strengthens Wal-Mart’s stake in Latin America by building on the September acquisition of a one-third interest in Central American Retail Holding Co., the region’s largest retailer. Wal-Mart Brazil will now have 295 units in 17 Brazilian states.

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • Live From New York: Fashion Comes Across the Pond

    Camera Icon More Videos

Subscribe to
Home & Textiles Today eDaily
Receive the news you need to know about the trends in the industry delivered right to your inbox.


HTT Current issue for September 2017

See the September 2017 issue of Home & Textiles Today. In this issue, we look at the Attack of the Killer Third Tier: Monster off-pricers are climbing to the top of the food chain, plus New Products: 40 pages of new products debuting at the New York Home Fashions Market; Home Stores: TJX unveils first U.S. HomeSense store; Clicks to Bricks: Boll & Branch moves from digital to physical retailing; and much more... See details!