Grupo Monge Invests $45 Million in Regional Expansion

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

Wednesday, March 17, 2010

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”.



More on this topic

New "Play" Store in Costa Rica

November 2009

Grupo Monge inaugurated its third "Play" store in the country; it is located in Escazú, and has 2.355 square meters of commercial space.

The $5 million electronics and home equipment store will offer 9.000 different products.

"Grupo Monge has hired 60 people for administrative and sales jobs. They were trained in the group's other two Play stores: Zapote and Paseo de Las Flores", reported Nicaraguahoy.info.

Almacenes Simán Expands to Costa rica

July 2009

The first Costa Rican store of the salvadoran group will open in November 2009, hiring over 300 employees.

In an interview with Nacion.com, Ricardo Simán, president of "Tiendas Simán", speaks about the new store they will open in the fifth stage of Grupo Roble's Multiplaza Escazú, in November of this year.

Mexican Doughnut Franchise Will Come to Central America

July 2009

Beleki is making preparations to bring the franchise to the region; Guatemala and Panama are sites of greatest advancements.

As a first step, the Mexican business is registering the brand in order to be used later. Beleki already has letters of intents signed by investors in Guatemala and Panama.

M Group Grows in Costa Rica

June 2009

With an investment of $2.4 million, they are building a new Play store in Escazú, and it is expect to be ready in October 2009.

The new Play consumer electronics store in Escazú, the third with this format that M Group has in Costa Rica, will be aimed at a niche market with high purchasing power.

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