Wal-Mart plans South American swoop
Ahold businesses targeted by world’s biggest retailer
July 27 2003
Wal-Mart plans a dramatic increase in its South American operations with an offer for Ahold’s businesses in Brazil, Argentina and Peru.
Netherlands-based Ahold put its Latin American operations on the market earler this year in the wake of the financial scandal which has embroiled the business.
Brazil’s leading retailer Companhia Brasileira and French supermarket giant Carrefour have already expressed an interest in Ahold’s Brazilian operation. However, Wal-mart is said to be ready to trump both with a single cash offer for the wider South American business, which also include the Argentina–based Disco Ahold store chain.
Wal-mart’s offer would cover 236 stores in Argentina, 151 in Brazil, and 32 in Peru. The US retailer currently operates just 11 stores in Argentina and 23 in Brazil, and the acquisition of the Ahold operation would be a major boost to its drive for international expansion.
