Wal-Mart on a growth spree; acquires 545 stores this week
17 Dec '05
3 min read
Wal-Mart's Ed Kolodzieski was named chief executive officer, working alongside Seiyu Chairman Noriyuki Watanabe.
Wal-Mart - Sonae The Sonae retail company, formerly owned by the Portuguese group Modelo Continente, has approximately 20,000 associates and is based in Porto Alegre. Sonae operates in Sao Paulo and the southern Brazilian states of Rio Grande do Sul, Santa Catarina and Parana.
Craig Herkert, president and chief executive officer for Wal-Mart in the Americas, noted that Wal-Mart has significantly strengthened its position in Latin America with the Sonae purchase and the acquisition in September of a one-third interest in (CARHCO), Central America's largest retailer (see below).
Wal-Mart Canada Wal-Mart Canada confirmed this week that the company will expand three Wal-Mart stores in Ontario in late 2006 as part of its commitment to provide shoppers with a broad range of products at affordable prices.
Wal-Mart - CARHCO In September, Wal-Mart acquired a minority interest in CARHCO's 363 supermarkets in five countries: Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica.
As part of the agreement, Wal-Mart will acquire additional interests over time in CARHCO, including interests toward achieving majority ownership in the company.
Wal-Mart Stores Inc operates Wal-Mart Stores, Supercenters, Neighborhood Markets and SAM'S CLUB locations in the United States. The company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Germany, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico, South Korea and the United Kingdom.