No to Walmart Once Again

Authorities in Costa Rica confirmed their judgment against Walmart's request to buy the supermarket chain Gessa, ending the case through administrative channels.

Thursday, January 31, 2019

At the beginning of December 2018, the Commission for the Promotion of Competition (Coprocom) denied Walmart the request to purchase the Gessa group. Days later, the two companies involved in the transaction filed two appeals to overturn the decision.

See "Acquisition of Supermarket Chain is Claimed" and "Supermarket Chain Purchase Stopped"

On January 29, Coprocom resolved the revocation appeals filed separately on December 19, ratifying its rejection of Walmart's request to acquire Grupo Empresarial de Supermercados S.A. (Gessa), owner of the Perimercados, Saretto and Súper Compro chains.

You may be interested in "Where are the supermarkets in Central America?"

Rodolfo Cheves, president of Coprocom, confirmed to Nacion.com that "... the decision of the entity which was unanimous of the four members present at the session. There were other commissioners who were inhibited from participating in the vote because at some point they had a relationship with the companies involved in the process. This is the final decision and the case is closed in the administrative way."

Cheves added: "... I would not say that there is an improper consolidation (with the purchase), but there are the same arguments and the same fears expressed previously. In other words, because of the size of the market, the effects on competition, suppliers and impacts on the consumer were relevant."

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More on this topic

New Attempt to Sell Supermarket Chain

December 2019

Almost a year after Walmart's application to acquire Grupo Gessa's supermarket chain in Costa Rica was denied, a new agreement is now announced between Grupo Gessa and Grupo Empresarial de Retail S.A.

In January of this year, it was reported that local authorities ratified their ruling against Walmart's request to buy supermarket chain Gessa, arguing that the transaction presented problems of eventual concentration.

Acquisition of Supermarket Chain is Claimed

December 2018

In response to the brake placed by the Commission for the Promotion of Competition on the purchase of Gessa by Walmart, in Costa Rica both companies presented two independent appeals that seek to revoke the blockade of the transaction.

Last week, the Commission for the Promotion of Competition (Coprocom) denied Walmart the purchase request of the supermarket group Gessa, and just days later, on December 10th, the two companies participating in the transaction filed two appeals to overturn the judgment.

Supermarket Chain Purchase Stopped

December 2018

Arguing that there are risks that the economic agent will affect market prices, in Costa Rica the Commission for the Promotion of Competition denied Walmart the request to purchase the supermarket group Gessa.

Representatives of the Commission for the Promotion of Competition (Coprocom) informed that the decision was taken unanimously on December 4th and the parties were notified the following day.

Offensive Against a Giant

August 2018

In Costa Rica a group of cooperatives, associations and companies are considering to present a purchase offer for the supermarket chain Gessa, in order to try to stop Walmart from making the acquisition.

Elfinancierocr.com announced that a group of companies, cooperatives and associations, led by the National Chamber of Social Solidarity Economy, is working on a proposal to present to the owners of Grupo Empresarial de Supermercados (Gessa). At the end of last month, Walmart announced that it had filed with the Commission for the Promotion of Competition (Coprocom), a proposal to acquire the supermarket chains Perimercados, Súper Compro and the Saretto store, which currently belong to Gessa.

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