Dollarcity is Projecting New Sales Points in the Region

After making a strategic alliance with the firm Dollarama, the business conglomerate plans to open 225 new stores dedicated to the sale of home and office goods in El Salvador, Guatemala and Colombia.

Tuesday, July 2, 2019

It was reported that the Canadian company Dollarama reached an agreement to acquire a 50.1% stake in the chain of stores of Salvadoran origin Dollarcity, in a transaction estimated at $85 million to $95 million.

Currently, Dollarcity has 192 stores, of which 45 are in El Salvador, 56 in Guatemala and 91 in Colombia. Dollarcity plans to end 2019 with more than 210 stores, and open more sales points in the coming years.

You may be interested in "Where do consumers transit" and "Where are the consumers who spend the most?

Regarding the business merger, Neil Rossy, president and CEO of Dollarama, explained through a statement that "... After six years of due diligence and field experience in Latin America, we believe it is the right time to execute our option to acquire this stake, and that Dollarcity is the right vehicle to realize the growth potential we see in the markets we have chosen."

Marco Baldocchi, CEO of Dollarcity, said that "... We are very excited to take our relationship with Dollarama to the next level and together try to achieve Dollarcity's long-term growth goals. We have leveraged Dollarama's experience by establishing a successful retail model in El Salvador, Guatemala and Colombia and expect our network of stores in those countries to continue to grow in the coming years."

Laprensagrafica.com reports that "... In February 2013, Dollarama reached an agreement with Dollarcity to share its experience and to provide services through its subsidiary Dollarama International Inc. This agreement included the option of acquisition from the seventh year of the company. However, both companies decided to advance the purchase option.

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