One of the most recognized wholesale self-service store chains for commercial supplies in the world, such as Makro He’s not having a good time at all Argentinaas it was learned that they will cease to operate, despite being one of the most important in the sector. This supermarket put its 24 branches up for sale due to the economic recession that the country is going through during these times, so an international bank that operates in the nation has already started the respective negotiations with possible candidates. In the following note, we will tell you all the details.
HOW MUCH IS MAKRO ASKING FOR THE SALE OF ITS 24 STORES IN ARGENTINA?
In 1988, Makro opened its first store in the town of Olivos, located in the northern part of the metropolitan area of Buenos Aires, ArgentinaOver the years, this popular supermarket has expanded to include 24 wholesale stores spread across ten provinces. However, the economic recession and political instability have forced the sale of these stores, according to Noticias Argentinas.
To do this, Makro gave a sales mandate to Banco Santander, which has functions in Argentinato initiate agreements with potential customers, which include players in the wholesale business and supermarket companies. The company, owned by the Dutch group SHV Holdings, expects to obtain Approximately $200 million from the sale of its assets.
Likewise, this departure from Makro The Argentine market’s decline is due to the decline in both wholesale and retail consumption, generating a negative impact that could not be reversed by the Dutch brand. According to a report by the Argentine Confederation of Medium-sized Enterprises (CAME), SME retail sales had a negative projection in July, with a 15.7% year-on-year drop at constant prices, making the situation even more complex.
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The million-dollar sum that Makro is asking for the sale of its 24 branches after announcing its departure from Argentina
On the other hand, the economic situation that this country is going through does not go unnoticed in the world. According to the Economic Commission for Latin America and the Caribbean (ECLAC), two countries have the lowest growth in 2024 and they are: Argentina and Colombia. With respect to Argentina (-3.6%), high inflation, political instability and restrictions to access external financing have been affecting its economywhich is why it is looking negative for the following year. In addition, the erroneous economic policies and the lack of confidence in the Argentine government are causing investors not to invest in the country’s development.
While Colombia (1.3%) despite having shown good economic progress in recent years, the crisis in citizen security and the political uncertainty that the current government is going through have contributed to their inability to increase their economyreflecting slow growth for the coming years. It is important to mention that Paraguay and Uruguay are considered to have a high projection this year thanks to their political stability and agriculture, according to ECLAC.
The million-dollar sum that Makro is asking for the sale of its 24 branches after announcing its departure from Argentina
The economic projection of countries in South America, according to Cepal
- Argentina (-3.6%)
- Colombia (1.3%)
- Bolivia (1.7%)
- Ecuador (1.8%)
- Brazil (2.3%)
- Chile (2.6%)
- Peru (2.6%)
- Uruguay (3.6%)
- Paraguay (3.8%)
- Venezuela (5.0%)
The million-dollar sum that Makro is asking for the sale of its 24 branches after announcing its departure from Argentina
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