Brazil's Pao de Acucar expands further into nonfood retail

12/7/2009 | Financial Times (tiered subscription model)

Pao de Acucar, the largest supermarket chain in Brazil, has agreed to acquire the country's biggest electrical and household goods retailer, Casas Bahia. The acquisition will create a dominant retail group with $23 billion in annual sales. Pao de Acucar is moving further into nonfood retailing with the takeover.

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