SMU SA reported that the sale of its subsidiary OK Market SA to FEMSA Comercio SA de CV, operator in Chile of convenience stores, has been completed.
OXXO.
The company high schoola supermarket linked to the Saieh Group, informed the sale of its subsidiary OK Market SA to Femsa Comercio SA, operator of OXXO stores in Chile.
This was agreed in October 2020, after obtaining the respective regulatory authorizations and the buyer successfully completing the due diligence process regarding the business.
The general manager of SMU, Marcelo Gálvez, pointed out that “for more than 10 years, under our administration, we have built a convenience business valued by consumers. With the completion of this sale, we wish OK Market all the best and FEMSAand we thank the great human team that was part of the SMU Group during this time”.
The total price received by SMU SA, on the occasion of the reported sale, amounts to 49,474 million pesos, equivalent to the value paid for the equity of the convenience business, with an estimated impact of 20 billion pesos on first quarter profits of 2022.
“This sale is part of a strategic decision to focus on our core business, promoting the growth of our Unimarc, Alvi, Mayorista 10 and Super10 formats in Chile, and MaxiAhorro and Mayorsa in Peru, and the development of e -commerce,” added Galvez.
The company’s current investment plan is focused on omnichannel growth initiatives, e-commerce, and efficiency, technology and digitization projects. Highlighting for 2022, projects such as more than 30 renovations, and 13 new openings in Chile and Peru.
Finally, the scope of the App and Unimarc.cl, online sales platforms with which the company will have a national presence in mid-2022, will continue to expand.