Supermarket Chain Sales Authorized

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

Wednesday, March 4, 2020

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. (Gersa), which is owned by the family of Chinese origin with the surname Yan, owner of the Kimling Yan group.

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

After learning of the request, the Commission to Promote Competition (Coprocom) agreed on March 3 to give free rein to the purchase of the chain, however, the amount of the transaction was not disclosed.

See "What are the Characteristics of the Consumer in Central America?"

Victoria Velásquez, acting secretary of Coprocom, told Nacion.com that "... the new law established new individual thresholds for the size of companies seeking to merge. This made the Kinking Yan group go beyond those requirements, even though Gessa is of a size that required it to report the purchase operation. The law states that the two involved in the transaction must be within the thresholds."

Nacion.com reviews that "... The two groups separately reported that the approximately 1,200 employees of the supermarket chain will remain in their positions. From now on, a transition will take place by means of which Gersa will gradually take over Gessa and its sales points."

This was not the first time that an attempt was made to buy this chain of stores, as in January 2019 it was reported that the local authorities had ratified their ruling against Walmart's request to buy the supermarket chain Gessa, arguing that the transaction presented problems of an eventual concentration.

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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.

Supermarket Business In Few Hands

July 2018

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.

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.

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Grupo AR Inversiones S.A.

The company develops small comercial projects in the capital city of Guatemala. 15,000-25000 square meters of construction area.
Operates in Guatemala
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