Costa Rica's Grupo M to open 13 stores in Nicaragua

Costa Rica's Grupo M said it will open 13 household appliance stores in Nicaragua under its El Verdugo brand.

Wednesday, July 2, 2008

El Verdugo is one of five chains that make up Grupo M, which has 370 stores in Costa Rica, Nicaragua, Honduras, El Salvador and Guatemala. Three of the new Nicaraguan El Verdugo stores will be located in the capital and the rest in the provinces.

More on this topic

GAP Comes to Panama

February 2012

The GAP clothing chain will open its first store in Panama in late February.

This opening in the new phase of Albrook Mall, marks the start of expansion into Central America and the Caribbean.

The company plans to open two more stores this year in Panama, one in Metromall and one in Multiplaza.

Gollo Stores Expands in Costa Rica

November 2010

The company announced the opening of six new stores and that it will relocate several of its current shops.

For the month of November, GOLLO is preparing the opening of new outlets in San Vito de Coto Brus, downtown San Jose, Palmar Norte and Santa Rosa de Pocosol in San Carlos. These new stores will generate 27 direct jobs.

Grupo Monge Invests $45 Million in Regional Expansion

March 2010

The home appliances chain will open new stores in Guatemala, Honduras and Nicaragua.

Company president Gastón Monge commented they plan to open 40 new stores in Guatemala using the “Gallo más Gallo” brand.

“In Honduras, Grupo M will invest $15 million in 20 new stores”, reported Nacion.com. “5 stores are planned for Nicaragua, which will cost between $2.5 and $5 million”.

$50 million credit for Grupo M Holding S.A.

August 2008

The IFC, the World Bank's financial arm for private sector support, granted a loan of 50 million dollars to Grupo M Holding S. A.

The credit was provided "for the purpose of introducing the swaps market, that is, the transfer of funds in US dollars and currencies from other Central American countries," according to details of a press release from Grupo M.

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