Cencosud completed the acquisition of Makro and Basualdo for $122.5m.

Cencosud, a publicly traded retail company, completed the acquisition of Makro, a retail supermarket, and Basualdo, a wholesale food company, for $122.5m. “we are very pleased with this opportunity for growth in Argentina, a market where we have been present for more than 40 years with our Supermarkets, Shopping Centers, Home Improvement Stores and Financial Services. Makro has excellent locations of its own, complementary to ours, and is the entry into the Cash & Carry format, which we already operate in Brazil through GIGA. We see attractive opportunities for synergies and strengthening of our operation in the country,” Rodrigo Larrain, Cencosud CEO.