Chilean conglomerate Cencosud has acquired Supermercados Mayoristas Makro SA and Roberto Basualdo SA, a move that marks its expansion in the Argentine wholesale sector. The transaction, valued at approximately $122.5 million, will be financed with Cencosud's own resources. This agreement includes the transfer of Makro's own brands, such as Aro, M&K, and Ternes, which cover products from empanadas to packaged meat cuts.
"We are very pleased with this growth opportunity in Argentina, a market where we have been present for more than 40 years with our supermarkets, shopping centers, home improvement stores, and financial services," stated Rodrigo Larraín, CEO of Cencosud. The acquisition of Makro represents an entry into the cash & carry format, complementing its presence in Brazil through GIGA, Larraín stated.
Makro, formerly under Dutch capital control, operated 24 branches in 10 Argentine provinces. The company reduced its presence in Latin America in recent years. In 1988, Makro opened its first supermarket in Olivos, Buenos Aires. In 2009, it acquired wholesaler Roberto Basualdo SA. In 2022, Dutch group SHV Holding put Makro up for sale, valuing the Argentine operation at around $200 million.
Cencosud's purchase of Makro is part of a $610 million regional investment plan until 2025, including opening new supermarkets with 44,000 square meters of sales room. This plan also includes expansion in the United States with 12 new The Fresh Market shops.
Source: noticiasargentinas.com