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.
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."
Four months ago mergers and acquisitions in Costa Rica were conducted without any governmental control.
Now, operations of this type over $15 million must be authorized by the Commission to Promote Competition (COPROCOM) in the first four months of rule of law, four mergers or acquisitions of companies have been authorized
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