Costa Rica's El Lagar begins transformation

El Lagar, a hardware store chain that's been around for four decades, is no longer a family business and has tied its fortunes to those of Grupo Progreso de Guatemala.

Wednesday, July 9, 2008

The regional conglomerate Grupo Progreso de Guatemala has acquired a majority interest in the El Lagar.
General Manager Ricardo Mora said that under the new owners, there will be some changes in the working conditions, but "the way we have treated our customers will not change and, on the contrary, will be strengthened."

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Four months ago mergers and acquisitions in Costa Rica were conducted without any governmental control.

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El Salvador: Concentration Levels Under Review

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Western Union Allies With Grupo Progreso

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The agreement will enable customers to send and receive money transfers from any of the 50 stores of Grupo Progreso.

Of Guatemalan origin, Grupo Progreso owns hardware store chains El Lagar and El Colono.

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Excel adds Renault Costa Rica to auto portfolio

April 2008

Excel Automotriz, Central America's leading automobile distributor, has acquired Renault Costa Rica to add to its portfolio of 15 brands in the region.

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