Paris, France, 2014-2-10 — /EPR Retail News/ — Exito, a Casino subsidiary, announced the signing of an agreement to acquire and operate 50 stores of the Colombian company Super Inter. Exito will acquire 19 stores in 2014 and will operate the 31 remaining ones, which are subject to a call option exercisable in 2015.
Created in 1992, Super Inter is an independent retailer located in the Cali and Coffee regions, with 2013 estimated sales of around 425 M$.
This operation will consolidate Exito’s leadership in Colombia, expanding its footprint in these two regions. The transaction will also further accelerate Exito’s development in the discount format through an additional brand that will complement Exito’s current discount format Surtimax.
The transaction will be financed out of Exito’s existing cash balance resources and will be accretive to Exito’s net earnings from the first year. The execution of the transaction is subject to the approval of the Colombian antitrust authority.
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