Colombia: Jeronimo Martins to acquire 75 Colsubsidio supermarkets

Portuguese retailer Jeronimo Martins has received approval from Colombia’s antitrust authority to acquire 75 Colsubsidio supermarkets to boost its presence in Colombia to more than 1,500 outlets.

In November last year, Colsubsidio announced that it would close all 104 of its stores by December due to declining performance and increased competition.

The newly acquired stores will gradually reopen under the Ara brand by summer supported by new distribution centres in Cota and Girardota. The acquisition, along with 150 planned new stores and a €1 billion ($1.1 billion) investment plan, will consolidate Ara’s position as the third-largest retailer in Colombia, after Exito and D1,

The expansion is expected to generate approximately 900 new jobs and will help Ara expand further into central Colombia, including Bogota and regions such as Cundinamarca, Tolima, Risaralda, Quindío, Boyacá, and Meta.

Jeronimo Martins is a Portugal-based group with international operations in the food distribution and specialized retail sectors. Ara is the group’s retail division in Colombia.

Source: ESM/ Jeronimo Martins