Grupo Casino is currently seeking a buyer for its Libertad supermarket chain in Argentina as part of an asset divestment process, which also includes operations in Brazil, Colombia, and Uruguay.
Sources close to the matter indicate that Grupo De Narváez (GDN) is emerging as the leading candidate for the acquisition. However, other chains such as Coto and La Anónima are also mentioned.
Currently, the Libertad chain operates over 50 establishments in ten provinces, including 14 hypermarkets, 14 shopping centers, 10 convenience stores, 10 wholesalers, an online sales channel, and the Libertad Fresh Market. Its estimated revenue for this year is expected to exceed $100 billion in the country.
Recently, the company entered the Buenos Aires market with the opening of a branch of its Libertad Fresh Market in the Dot shopping mall, involving an investment of $3 million. According to reports from Clarín newspaper, the decision to divest its operations in the region is driven by the parent company's goal of reducing its debt, which amounts to $7 billion.
So far, Grupo De Narváez appears as the main candidate to acquire Casino's business in Argentina. The company already has a presence in the supermarket sector through Changomás, the former subsidiary of Walmart in the country. It also operates in Uruguay, another market where Casino is divesting.
The list of potential buyers also includes the La Anónima group, owned by the Braun family, which has a strong presence in the southern region of the country. If the purchase of Libertad is realized, it would allow La Anónima to expand into the central and northern regions of Argentina. Libertad has a solid position in provinces such as Córdoba, Tucumán, and Misiones.
Another player to consider among potential buyers is Coto, which was competing until the last moment to acquire Walmart's local businesses, which ultimately ended up in the hands of GDN.
The competition for the acquisition of Libertad is underway, and it will be interesting to see which chain emerges as the final buyer in this exciting and strategic transaction in the retail sector.
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