CHILE – Cencosud S.A. , through its Argentine subsidiaries, has signed an agreement to acquire 100% of Supermercados Mayoristas Makro S.A. and Roberto Basualdo S.A. for USD 122.5 million, a price that may be adjusted based on net debt, working capital, and other contractual conditions.

The acquisition will be fully funded using available company resources.

Makro and Basualdo, with over 35 years in Argentina, operate 28 Cash & Carry stores, most of which they own. They have strong locations across 12 cities and 10 provinces, including Buenos Aires, Santa Fe, and Córdoba. Makro also boasts a portfolio of private labels and a loyal customer base.

This acquisition will enhance Cencosud’s presence in the Argentine market and allow entry into the wholesale segment, creating synergies with existing operations.

Rodrigo Larrain, CEO of Cencosud, commented, “We’re excited about this growth opportunity in Argentina, where we’ve been present for over 40 years. Makro’s prime locations complement ours and give us access to the Cash & Carry format, which we already operate in Brazil through GIGA. We see significant potential for synergies and strengthening our operations in the country.”