Supermarket Business In Few Hands

In Costa Rica, Walmart has agreed to buy the supermarket chains Perimercados, Súper Compro and the Saretto store, until now owned by Grupo Empresarial de Supermercados.

Friday, July 20, 2018

Walmart Mexico and Central America reported that the transaction was presented on July 19 to the Commission for the Promotion of Competition (Coprocom), which must evaluate and authorize it.

Once the endorsement of Coprocom has been obtained, Walmart will initiate an integration process so that the 52 acquired stores are operated under their standards and brands in the country, according to the characteristics of each of then. More than 1,300 employees from the acquired stores will join the Walmart team in Costa Rica, the company said in a statement. 

Nacion.com reports that "... The buyer group currently operates 250 stores in Costa Rica, of which 163 are Palí, 40 are Maxi Palí, 36 are Masxmenos and 11 are Walmart stores. With this acquisition, there will be more than 300 points of sale, with a notable strengthening in particular in Guanacaste, where the Super Compro chain is very strong."

Regarding the analysis and approval process that Coprocom will have to carry out, Yanina Montero, director of the Technical Support Unit of that institution, explained that " ... the regulation establishes 30 calendar days for resolution, that will start however, from the moment that they have all of the information. This is because after a technical study which takes 10 calendar days it may be decided that more information is required and requested from the parties. In addition, the Technical Unit can declare the merger to be complex and, with that, request an extension of another 60 calendar days to resolve the issue."

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More on this topic

Supermarket Chain Sales Authorized

March 2020

In Costa Rica, the sale of Grupo Gessa's supermarket chain, composed of 52 stores, to Grupo Empresarial de Retail S.A. was authorized.

On December 12, 2019 the file for the sale of Grupo Empresarial de Supermercados S.A. was presented. (Gessa), owner of the chains of stores of the formats Peri, Súper Compro and Saretto, to Grupo Empresarial de Retail S.A.

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.

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