Wal-Mart aquires Brazilian retail chain from Ahold
Wal-Mart has acquired Bompreco, a Brazilian retail chain with 118 hypermarkets, supermarkets and mim-markets, from Ahold for $300 million.
With the acquisition, Wal-Mart will have 143 units in Brazil and its first units in the northeast of the country. Wal-Mart Brazil will keep its home office in Sao Paulo but will keep Bompreco's headquarters in Redcife as a regional base of operations.
Vincent Trius, president of Wal-Mart Brazil, says: "This acquisition demonstrates our long-term commitment to the Brazilian market... Both [companies] share the basic principles of respect for the individual, commitment to loacal communities, striving for excellence, promoting from within, and offering the best quality products to Brazilian customers."
Dresdner Kleinwort Wasserstein acted as lead financial advisor and Rio Bravo Investimentos was co-advisor for Wal-Mart.