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A Supermarket Deal Between Chedraui and Comerci

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Published on : Oct 13, 2014

Mexican hypermarket group, Controladora Comercial Mexicana SAB (COMERUBC) has plans of selling a major bulk of its two hundred retail stores to Grupo Comercial Chedraui SAB (CHDRAUIB), a popular department and grocery store chain of Mexico. According to sources, the business deal is estimated to be more than US$ 4 billion. 

The Mexico based supermarket operator Controladora Comercial Mexicana SAB intends on retaining the real estate but leasing it out to Grupo Comercial Chedraui SAB. However, Grupo Comercial Chedraui SAB will be using its own brand for the stores that it would be purchasing. The market value of Controladora Comercial Mexicana SAB is about US$ 4.1 billion ( 55.2 billion pesos). 

This decision of Controladora Comercial Mexicana SAB to sell the retail stores followed within two months after Grupo Gigante SAB (GIGANTE) had agreed on purchasing most of the former’s Beer Factory eateries and Restaurantes California for a value of US$ 80 million (1.1 billion pesos). While the final terms and conditions of the business contract are yet to be decided and set, Controladora Comercial Mexicana SAB is insisting that Grupo Comercial Chedraui SAB should pay in cash. Mexico’s largest and second largest retailers are Wal-Mart de Mexico SAB and Organizacion Soriana SAB. 

In terms of market capitalization, Grupo Comercial Chedraui SAB is the fourth-largest supermarket operator in Mexico, and Controladora Comercial Mexicana SAB is the third largest. 

Rothschild was hired by Comercial Mexicana during the beginning of this year in order to find a suitable buyer for the whole business.

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