BRAZIL (Notifix.) – Sodimac, part of Chile’s Falabella Group, enters the Brazilian home improvement market with the acquisition of a 50.1% Marinvest Gestao de Participaciones Limitada, controller of Construdecor S.A.

Construdecor operates 58 home improvement stores in the state of Sao Paulo under the banner DICICO and 200.000m2 distribution center. In fiscal 2012 the Dicico network reported sales of approximately R$ 789 million.

To realize the transaction Sodimac Brazil destined R$388 million (approx. USD 188 million), of which R $ 319 million are assigned to a capital increase and the differential corresponds to the purchase of existing shares. Sodimac will partly finance this operation with its own funds and in part financed by the bank sector as required.