Wal-Mart has announced it is purchasing the Brazilian supermarket chain Bompreço from Dutch retailers Ahold for $300 million.
The purchase of Bompreço will take Wal-Mart from the fifth biggest retailer in Brazil with 25 stores, to third biggest, with 118 stores.
The world’s largest retailer entered Brazil with a single Sam’s Club store in São Paulo in May 1995.
It is hoped that the purchase of Bompreço which last year had unaudited net sales of e843m will improve Wal-Mart’s position in South America.
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