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Retail Rivalry: Unfounded Acquisition Rumors Between Grupo Mateus And Assaí
(MENAFN- The Rio Times) Today, Grupo Mateus firmly denied rumors of acquiring Assaí, responding to speculative reports that had emerged recently.
O Globo suggested over the weekend that Grupo Mateus was preparing an offer for Assaí's key shareholders.
In their statement, Grupo Mateus focused on their original strategy to expand in Brazil's Northeast. They emphasized their commitment, dismissing rumors of negotiations with Assaí.
Assaí also issued a statement on Monday. They confirmed that they had neither received nor been informed of any such offer from Grupo Mateus.
Assaí's ownership structure includes major investors like Orbis Invest and BlackRock, holding 10% and 9.97% stakes, respectively.
Simultaneously, Grupo Mateus is pursuing an acquisition of Novo Atacado. This chain, operating 27 stores in Pernambuco and Paraíba, reported revenues exceeding 4.5 billion reais last year. This move aligns with Grupo Mateus's strategic focus on the Northeast.
Both companies stressed their strategic business focus. Assaí continues to enhance its wholesale operations, and Grupo Mateus advances its regional expansion.
These clarifications serve as a reminder of the need for transparent communication in the retail sector, where rumors can lead to market instability.
The dedication to clear, strategic paths helps both companies navigate market complexities and maintain investor confidence.
Background
Three months ago, Grupo Mateus announced a pivotal partnership with Novo Atacarejo, reshaping Brazil's retail landscape.
The company, based in São Luis, Maranhão, is Brazil's largest food retailer with entirely domestic capital.
This collaboration integrates 21 Grupo Mateus stores with 29 from Novo Atacarejo, creating a new entity with R$6.8 billion ($1.31 billion) in gross revenue.
Grupo Mateus holds a 51% majority stake, reinforcing its dominant position. This strategic move aims to expand its footprint in the Northeast, a region poised for retail growth.
It also strengthens its competitive stance against giants like Carrefour Brasil and Assaí.
The partnership sharpens Grupo Mateus's competitive edge while mitigating risks associated with market execution and integration.
Retail Rivalry: Unfounded Acquisition Rumors Between Grupo Mateus and Assaí
O Globo suggested over the weekend that Grupo Mateus was preparing an offer for Assaí's key shareholders.
In their statement, Grupo Mateus focused on their original strategy to expand in Brazil's Northeast. They emphasized their commitment, dismissing rumors of negotiations with Assaí.
Assaí also issued a statement on Monday. They confirmed that they had neither received nor been informed of any such offer from Grupo Mateus.
Assaí's ownership structure includes major investors like Orbis Invest and BlackRock, holding 10% and 9.97% stakes, respectively.
Simultaneously, Grupo Mateus is pursuing an acquisition of Novo Atacado. This chain, operating 27 stores in Pernambuco and Paraíba, reported revenues exceeding 4.5 billion reais last year. This move aligns with Grupo Mateus's strategic focus on the Northeast.
Both companies stressed their strategic business focus. Assaí continues to enhance its wholesale operations, and Grupo Mateus advances its regional expansion.
These clarifications serve as a reminder of the need for transparent communication in the retail sector, where rumors can lead to market instability.
The dedication to clear, strategic paths helps both companies navigate market complexities and maintain investor confidence.
Background
Three months ago, Grupo Mateus announced a pivotal partnership with Novo Atacarejo, reshaping Brazil's retail landscape.
The company, based in São Luis, Maranhão, is Brazil's largest food retailer with entirely domestic capital.
This collaboration integrates 21 Grupo Mateus stores with 29 from Novo Atacarejo, creating a new entity with R$6.8 billion ($1.31 billion) in gross revenue.
Grupo Mateus holds a 51% majority stake, reinforcing its dominant position. This strategic move aims to expand its footprint in the Northeast, a region poised for retail growth.
It also strengthens its competitive stance against giants like Carrefour Brasil and Assaí.
The partnership sharpens Grupo Mateus's competitive edge while mitigating risks associated with market execution and integration.
Retail Rivalry: Unfounded Acquisition Rumors Between Grupo Mateus and Assaí
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