Wal-Mart Puerto Rico (San Juan) has announced the acquisition of Supermercados Amigo, the number one supermarket chain in Puerto Rico. Supermercados'35 supermarkets and its more than 4500 store employees will join Wal-Mart's Puerto Rican operation to further extend the company to new locations around the island, according to Bill Cahill, president of Wal-Mart Puerto Rico.
“The prospect of joining the worldwide Wal-Mart family and of sharing the talent and best practices of both organizations are compelling opportunities for our customers, our people, our suppliers and our business,” said Jose Revuelta, president of Supermercados Amigo.
The Amigo supermarkets will continue to operate under the Amigo brand name and be managed by Revuelta, who is also becoming the coo of Wal-Mart Puerto Rico and will lead the company's food division. With this acquisition, Wal-Mart Puerto Rico will become one of the leading employers on the island, with more than 10,000 associates and a payroll of more than $135 million annually. The acquisition further underscores Wal-Mart's long-term commitment to the Puerto Rican market, Cahill said, adding that Wal-Mart already has plans to invest more than $400 million in Puerto Rico in the next five years.
The transaction will be completed as soon as final consent is given by government authorities. If approved, Wal-Mart Puerto Rico will operate 52 units on the island, including nine Wal-Mart stores, one Wal-Mart Supercenter, seven Sam's Clubs and 35 Amigo supermarkets.