Wal-Mart Mexico announced this week that it will acquire Wal-Mart Central America within the next few weeks.
Shareholders of Wal-MartMexico will acquire 51 percent of the shares of Wal-Mart Central America, while the remaining 49 percent will remain distributed among minority shareholders throughout the region. Wal-Mart Central America is the leading operator of supermarkets in the region, with locations in El Salvador, Honduras, Guatemala, Nicaragua and Costa Rica.
“We are uniting two important businesses,” said Doug McMillon, president and CEO of Wal-Mart International. “This will improve the level of cooperation in the area and offer better service to our clients in Latin America.”
Wal-Mart Central America manages 519 stores and 11 distribution centers. Wal-Mart International reports that sales for the Central American locations have totaled more than $3.3 billion over the past 12 months.
In Costa Rica, Wal-Mart employs approximately 9,200 people at its grocery stores, including Palí, Más x Menos, Hipermás and Maxi Bodega. In the Central American region, Wal-Mart employs more than 30,000 people.
In Mexico, Wal-Mart has close to 1,500 locations throughout the country.
Marcos Samaha, president and CEO of Wal-Mart Central America, will continue to lead the regional operation and will join the board of directors of Wal-MartMexico. The acquisition and restructuring process is expected to be complete by the end of this month. Wal-Mart did not indicate whether there will be job reductions.