A large supermarket chain in Brazil will close 13 stores

The giant supermarket brand made a financial statement and decided to sell part of the company

One of the largest networks supermarkets country will be managed by one of its divisions. This news caught all his thousands of customers by surprise, as they did not expect such an impact on the network.

Supermarkets are part of anyone’s life and many Brazilians have developed a love affair with it, which unfortunately has stopped several units

For those who haven’t heard yet Sugar head, from Barra da Tijuca, to Rio de Janeiro, will be transferred for no less than 250 million reais. However, the administrative headquarters located in Jardim Paulista, in the city of São Paulo, will also be sold at the same price. In addition, according to information published by the group itself, another 13 branded stores are expected to close by the end of the year.

Recently, 11 stores were sold. O Pão de Açúcar Group passed the point: it sold 11 of its own stores to a private fund in a deal worth R$330 million. In addition, each of these units consists of one or more properties.

The transaction took place in the form sale and leasebackthat is to say Sugar headr will sell the stores but lease them later.

However, these leases will have an initial term of 15 years, except for the three stores, which will be leased for an initial period of 18 years, renewable for an additional period of the same period.

Thus, Pão de Açúcar will be able to ensure the continuity of its activities under sustainable financial conditions with rate cap (capitalization rate) is less than 9%.

What is the largest supermarket chain in Brazil?

The list of the largest Brazilian supermarkets was published on the night of April 17 by traditional ABRAS 2023 Ranking. However, the Smart Market event featured 30 of the largest food retail companies, with Carrefour at the top of the ranking for the seventh time with R$108.1 billion.

Finally, check out the top 10:

• 01 – Carrefour Group (R$108 billion)
• 02 – Asai Atakadista (R$59.7 billion)
• 03 – Mateus Group (R$24.6 billion)
• 04 – average score (R$ 18.5 billion)
• 05 – BH Supermarkets (R$14 billion)
• 06 – Muffato Group (R$ 12 billion)
• 07 – Pereira Group (R$11.2 billion)
• 08 – Cencosud Brasil (R$11.1 billion)
• 09 – Mart Minas & Dom Atacadista (8.3 billion R$)
• 10 – DMA Distribuidora (7.6 billion R$)