Carrefour Brasil SA expects to keep capital expenditure to convert 30 stores acquired from smaller rival Makro into its Atacadão wholesale format below R$300 million ($68.41 million). After local antitrust regulator Cade approves the recent acquisition, it should take three to six months to reopen each store as Atacadão, Roberto Müssnich, who leads Carrefour Brazil’s wholesale unit said. Müssnich and CFO Sébastien Durchon have also noted that Carrefour Brasil is open to considering an acquisition of GPA’s hypermarkets, though they are not up for sale.
Brazilian supermarket chain GPA SA reported a 71% drop in its fourth-quarter net income year-on-year, missing market expectations, after completing a corporate reorganisation. In a securities filing, the local subsidiary of French group Casino Guichard Perrachon SA said its quarterly net profit hit R$98 million ($22.45 million) compared with a consensus estimate of R$327.6 million compiled by Refinitiv.
French retailer Casino Guichard Perrachon SA (CASP.PA) is in advanced talks to sell its Leader Price discount chain to German low-cost rival Aldi, at $834 million. In June last year, Casino started a restructuring plan for its Latin American operations which would result in controlling its businesses in Brazil, Colombia, Uruguay and Argentina through a 41.4% stake in Brazilian unit GPA (PCAR4.SA).
Brazilian food retailer GPA SA has put its network of petrol stations up for sale. Sources confirmed an earlier report which said GPA may fetch up to 1 billion reais ($245 million) for the gas stations and that Banco Bradesco’s investment banking unit has the mandate. GPA currently owns 123 stores across Brazil and 72 petrol stations with the brands Ipiranga and Raizen.