Tuesday 28 June 2022

Walmart and Gessa ask Coprocom to revoke blockade of purchase

Paying the bills

Latest

Pandemic generated the loss of 25 million jobs in Latin America

Q24N (EFE) The covid-19 pandemic generated the loss of...

What you should know about the visa to enter Europe from 2023

Q TRAVEL - Citizens of at least 60 countries...

Costa Rica presents its national tourism plan

QCOSTARICA - With three major objectives for the growth...

Most institutions in Costa Rica do not have cybersecurity personnel

QCOSTARICA - Most public institutions in Costa Rica do...

How to throw the perfect party for your friends: tips from Royal Craft Wood

Whether you're celebrating a birthday, anniversary, or just getting...

Luis Guillermo Solís: “Nicaragua should have been expelled from SICA”

Q REPORTS (Confidencial) Eight former Costa Rican presidents –...

A million people attended the Diversity March In San Jose

QCOSTARICA - Organizers of the 'Pride Costa Rica' calculate...

Dollar Exchange

¢685.75 Buy

¢693.59 small> Sell

28 June 2022 - At The Banks - BCCR

Paying the bills

Share

Walmart and the Grupo Empresarial de Supermercados S. A. (Gessa) filed, separately, an appeal to the Comisión para la Promoción de la Competencia (Coprocom) – anticompetition commission – to allow Walmart’s purchase of Perimercados, Súper Compro and Saretto supermarkets.

The filing was made on Monday in response to Corprcom’s decision to block the sale, saying that it will affect prices and reduce competition.

- Advertisement -

Walmart and Gessa reached an agreement in July, whereby Walmart would purchase the 52 stores owned and operated by Gessa and would be added to its Másxmenos, Maxi Palí and Palí chain of supermarkets.

During the last 13 years, Walmart has reaped small and big victories in its conquest of the Central American market.

However, denying it the purchase of the Gessa chain may put the brakes to Walmart’s accelerated expansion in Costa Rica, an expansion announced in 2017 to double the number of stores in the country.

Walmart ‘s goal is to have in the country 200 points of sale by 2023.

The Conquest

The first step that Walmart made in Central America dates back to September 2005, when Walmart Stores obtained 33% of the American Retail Holding Company (Carhco) group, which was made up of the Corporación de Supermercados Unidos (CSU) and Guatemala’s Grupo Fragua.

A year later, Walmart Stores increased its stake in Carhco to 51% and formally changed its name to Walmart Central America.

- Advertisement -

At the end of 2009, Walmart Mexico bought 100% of Walmart Central America’s operations, with 51% belonging to Walmart Stores Inc., and the remaining 49% to the local partners of CSU (Costa Rica) and La Fragua (Guatemala).

During this process, the Hipermás big box store brand, created by CSU, was replaced with the Walmart brand and the strong investment in more stores.

Currently, Walmart operates 7210 stores in Central America – Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica – generating close to 35,000 direct jobs.

The brands include Walmart, Despensa Familiar, Pali, Maxi Despenssa, Maxi Pali, Paiz, Paiz, La Despensa de Don Juan, La Unión and Másxmenos.

- Advertisement -

 

 

- Advertisement -
Paying the bills
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Walmart ventures into remittances in Costa Rica through its Money Center

QCOSTARICA - The retail giant in Costa Rica, Walmart, reported its...

Icon store Muñoz and Nanne to close

QCOSTARICA - The Muñoz y Nanne shopping center announced the closure...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.