Brazil's biggest grocer branches out into mini-malls

09/2/2013 | Bloomberg

Brazilian grocery retailer Cia. Brasileira de Distribuicao Grupo Pao de Acucar will invest $500 million to build mini-malls around the company's supermarkets, a move aimed at boosting revenue as real estate prices and retail rents rise. French parent Casino Guichard-Perrachon has used the concept in Thailand and Vietnam. "The price of the land is so high you need the rental income to contribute to make sure that the capital can be paid back," said Bloomberg analyst Charles Allen.

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