Wal-Mart Stores Inc. (Bentonville, Ark.) has announced the purchase of the Brazilian retail business — which include 140 hypermarkets, supermarkets and wholesale units — from Sonae SGPS, SA (Maia, Portugal) for approximately $757 million.
The Sonae retail company in Brazil is based in Porto Alegre and operates in the state of Sao Paulo and the southern states of Rio Grande do Sul, Santa Catarina and Parana.
In September, Wal-Mart acquired a one-third interest in Central American Retail Holding Co., that region's largest retailer.
Vicente Trius, president of Wal-Mart Brazil, said the Sonae acquisition would improve Wal-Mart's position as a national retailer in Brazil. He said that with the acquisition, Wal-Mart Brazil will operate 295 units in 17 of Brazil's 26 states. Wal-Mart Brazil recently opened its first Supercenter in the federal district of Brasilia, the nation's capital. In 2004, Wal-Mart acquired the 118-store Bompreco chain in northeastern Brazil from Dutch retailer Ahold.
“We expect to learn a lot from Sonae that will help us improve further our business in Brazil,” said Trius. “We are looking forward to getting to know the habits of the local customers and to strengthen relationships with the regional suppliers. They are an important part of the company's strategy.”