Thursday 2 February 2023

Walmart Announces Purchase of Perimercados, Super Compro, and Saretto

The transaction, which involves 52 supermarkets, is subject to the approval of the national authorities

Paying the bills


Joselyn Chacón admits having paid to “put the hurt on” the media

QCOSTARICA ( The Minister of Health, Joselyn Chacón, affirmed...

Uncovering the Red Tape of Clean Water in Costa Rica

(OP-ED) Imagine having to haul water to your home,...

Do CBD Products Actually Work?

Rumors about the beneficial effects of CBD products have...

Costa Rica’s Minister of Sport assures that it is urgent to legalize recreational marijuana

QCOSTARICA - The Minister of Sport, Mary Munive, asked...

Central Bank intervenes propping up the dollar exchange

QCOSTARICA - The dollar exchange rose slightly, one colon,...

Tourism, exporters and service companies will hire fewer staff with the dollar falling

QCOSTARICA - Tourism, exporters of agricultural goods and service...

The most Popular Sports within Costa Rica     

As it is across the world, sports play a...

Dollar Exchange

¢556.19 Buy

¢552.84 Sell

2 February 2023 - At The Banks - BCCR

Paying the bills


Pending approval from regulating authorities, Walmart announced Thursday the purchase Perimercados, Super Compro and Saretto stores from Grupo Empresarial de Supermercados (Gessa).

Once authorization is received from the Comisión para la Promoción de la Competencia (Coprocom) – Commission for the Promotion of Competition of the Ministry of Economy, Industry and Commerce (MEIC), the retail chain will begin an integration process so that the 52 points of sale (POS) acquired under its standards and brands in the country.

- Advertisement -

More than 1,300 employees of the acquired stores will join the Walmart team in Costa Rica.

“The combined operation of the Walmart and Gessa stores generates an excellent complementarity to serve increasingly the Costa Rican market. In this way, Walmart promotes its growth plans in the region, and the current stores and collaborators of Gessa will be able to offer increasing value to its customers,” said Cristian Barrientos, senior vice president and general manager of Walmart Centroamérica.

Barrientos added that the transaction will represent an opportunity for the suppliers of both companies to continue developing their commercial activity, and potentially, can extend it to more establishments countrywide.

“We are very optimistic about the social value that we will be able to share thanks to this business, because customers will have greater possibilities to save on their purchases, more associates will have the opportunity to develop in a growing organization and, especially, we will give greater possibilities for business to our suppliers,” added the senior vice president.

The purchase is part of Walmart’s announced plans in mid-2017 to double its operations in Costa Rica within five years.

In Costa Rica, Walmart of Mexico and Central America owns the Walmart, Masxmenos, Maxipalí and Palí stores. The new acquisitions adds Perimercados, Super Compro and Saretto to its retail outlets.

- Advertisement -

According to a report by Bloomberg last month, Walmart’s Killing It in Central America. Bloomberg reported Walmart’s business in Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica is a growing part of the retailer’s publicly traded Mexican and Central American business, Wal-Mart de Mexico SAB, or Walmex. The region now accounts for almost one-fifth of Walmex’s revenue, up from 14% in 2014.

The retailer’s sales in Central America more than doubled to US$5.2 billion) in 2017.

In 2017, Walmart reported revenues of $5.7 billion in the Central American region. Internationally, the company suffered at the beginning of 2018, reporting a 27.7% fall in its net profit. The reduction was a consequence of the burdens linked to the US tax reform.


- Advertisement -
Paying the bills
Avatar photo
"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...

Walmart Exploiting Our Love of Bananas's Munchies reports that at Walmart, it's all about the banana....

Subscribe to our stories

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