Carrefour completes the acquisition of the BIG Group and joins the group of 10 largest companies in Brazil

Atacadão concluded the acquisition of 70% of the shares and Grupo Carrefour Brasil (CRFB3) made changes in the company’s management

Atacadão SA, the flag of the country’s wholesale Carrefour Brasil Group (CRFB3)announced the conclusion of the purchase of the BIG Group this Tuesday (7th).

The Carrefour Group informed, in a material fact, that “on June 6, 2022, the operation contemplated in the Agreement for the Purchase and Sale of Shares, Merger of Shares and Other Covenants took place”

Through the process of acquisitionO Atacadão “acquired shares issued by the BIG Group representing 70% of its share capital; and the remaining shares issued by the BIG Group were merged into the Company”

“With this, Grupo Carrefour Brasil consolidates itself as the undisputed leader in the sector, with market share more than double that of the second player and with comprehensive coverage in all Brazilian regions, making it part of the group of the 10 largest companies in Brazil.” Atacadão declared in the ad.

New Management of the Carrefour Group (CRFB3)

Along with the acquisition, the company also disclosed the new structure of governance and composition of management of the company.

With some maintenance such as the permanence of Alexandre Bompard as president, the company also made changes to the date of certain resignations of certain directors.

However, the board of directors will now have thirteen members, three of which are independent.

Among Carrefour’s board members is businessman Abilio Diniz.

The complete composition was:

• Alexandre Bompard (president);
• Abilio Diniz (vice-president);
• Matthieu Malige;
• Laurent Vallee;
• Jerome Nanty;
• Claire du Payrat;
• Elodie Perthuisot;
• Stéphane Maquaire;
• Eduardo Rossi;
• Patrice Etlin;
• Claudia Almeida e Silva (independent member);
• Vânia Neves (independent member);
• vacant position (independent member).

The company informed that a call will be held with investors and the market on June 13, 2022 at 10:00 am to talk about the integration of the BIG Group.

The purchase of the BIG Group

Announced in March of this year, the interest of Carrefour Group (CRFB3) for the purchase of BIG was a constant subject for the company.

Marked by a long process of evaluation by the Administrative Council for Economic Defense (Cade) and by the contracting of large lines of credit, the acquisition promise that would strengthen the Carrefour Group’s market share was finally concluded.

Source: Exam