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Carrefour to Buy Atacadao for $1B-Plus

SAO PAULO-The acquisition will add 34 discount hypermarkets to the 401 stores the Paris-based retailer already operates in Brazil under three brands.

By Marita Thomas | Updated on April 24, 2007

SAO PAULO-Paris-based Carrefour SA, the world’s second-largest retailer and Europe’s largest, has agreed to buy locally based Atacadao for approximately $1.1 billion USD. The acquisition, which requires regulatory approval, will make Carrefour the largest food retailer in Brazil, which has the biggest economy in South America.

Atacadao operates 34 discount hypermarkets in Brazil, and 17 of them are located in the Sao Paulo state. The stores encompass 2.3 million sf of retail space. According to Carrefour, Atacadao produced net sales of $2 billion USD in 2006 and held a 4% market share.

On the close of the deal, the Atacadao units will join Carrefour’s existing 109 hypermarkets, 34 Carrefour Bairo, and 258 Dia hard discount stores in Brazil. They, according to a Carrefour statement, had total net sales of nearly $5.2 billion USD in 2006.

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