Carrefour announces the purchase of Big Brasil Group for $1.3 bn

By completing the purchase of BIG (formerly Walmart) for R$7.5 billion ($1.3 bn), Carrefour should become the sole leader in Brazilian food retail. The combination of the two businesses should result in a company with a potential revenue of R$100 billion, almost three times that of GPA, owner of Pão de Açúcar and Extra. By buying the number 3 in the sector, Carrefour completely detaches itself from the other operators, especially if one considers Assaí’s split from GPA’s multivarejo.

Source: 6 Minutos