{"id":135278,"date":"2021-08-11T23:42:34","date_gmt":"2021-08-11T23:42:34","guid":{"rendered":"https:\/\/precoinnews.com\/?p=135278"},"modified":"2021-08-11T23:42:34","modified_gmt":"2021-08-11T23:42:34","slug":"brazils-lojas-americanas-to-buy-grocery-chain-hortifruti-for-400-million","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/brazils-lojas-americanas-to-buy-grocery-chain-hortifruti-for-400-million\/","title":{"rendered":"Brazil's Lojas Americanas to buy grocery chain Hortifruti for $400 million"},"content":{"rendered":"
BRASILIA (Reuters) -Brazilian retailer Lojas Americanas SA said on Wednesday it had agreed to acquire grocery chain Hortifruti Natural da Terra for 2.1 billion reais ($402 million), in a strategic move into the fresh foods sector.<\/p>\n
Hortifruti offers fresh produce through 73 stores in four Brazilian states, generating 2 billion reais in unaudited gross revenue in the year ended June 30, according to a securities filing by Lojas Americanas on the deal.<\/p>\n
Americanas, controlled by the founders of investment holding 3G Capital led by Jorge Paulo Lemann, already has a large e-commerce operation it has decided to integrate in April.<\/p>\n
Hortifruti, controlled by Swiss private equity firm Partners Group AG, will be sold for nine times its earnings before interest, taxes, depreciation and amortization (EBITDA), a common operational profit gauge.<\/p>\n
Hortifruti in April filed plans to go public with Brazilian securities industry watchdog CVM.<\/p>\n
($1 = 5.2187 reais)<\/p>\n