Carrefour buys Brazilian group Giro Big for 1 1.1 billion

French supermarket group Carrefour has agreed to buy Brazilian company Gropo Big, Brazil’s third-largest food retailer, for about $ 1.3 billion, according to Carrefour, whose benefits are expected to rise.

Carrefour, which recently failed to negotiate with Canadian coach-dart, said on Wednesday it had acquired Brazilian group Gropo Big and US retailer Walmart from US investment firm Advent International.

He added that transaction values Great team 7 billion Brazilian riyals (1.1 billion euros) in corporate value.

Carrefour said the acquisition will provide significant synergy potential from the first year, representing an additional net contribution of EPIDTA (interest, tax, depreciation and pre-loan income) of $ 1.7 billion or about 26 260 million on an annual basis. Three years after the completion of the transaction.

“Our company is under attack and the acquisition of Grupo Big is a moment of great change for Carrefour Brazil,” said Alexandre Bombard, CEO of the French company.

He added that the move, which has been very important since Bombard took over as head of the company in 2017, is part of the company’s strategy to boost external growth by strengthening its position in key markets.