Portuguese retail group Jerónimo Martins has purchased five new stores in Colombia, where operates the Ara supermarket chain, reports El Tiempo.
Of the five new supermarket outlets recently acquired by the group, two are in Bogotá, two in Cudinamarca and one in Boyacá.
The stores acquired in the Colombian capital belong to Grupo Modernos, and are operated under the Concepción Quiroga and Concepción Claret banners.
The details of the investment were not disclosed, but the retailer previously announced that this year it wants to increase the number of Ara stores in the Colombian market by around 150.
This is in line with the group’s plan to accelerate its pace of expansion in Colombia through the acquisition of small, well-located chains.
Jerónimo Martins currently operates 221 Ara stores in Colombia and ended 2016 with a turnover of €236 million, representing a growth of 92.5%.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine