- The award is granted after an exhaustive selection process, taking into account several factors such as innovation, timeliness, foresight, quality of execution and impact of the transaction.
- For Cencosud, the acquisition was part of its strategy to strengthen business in markets with higher profitability and future growth.
SANTIAGO, Chile–(BUSINESS WIRE)–Cencosud was recently recognized in the Cross-Border M&A category of the “Deals of the Year” awards, organized by LatinFinance, for the acquisition of the U.S. supermarket chain The Fresh Market. The award was received by the company’s CEO, Matías Videla, who traveled to New York, United States, to participate in the awards ceremony.
The award, which recognizes the operations of the most outstanding institutions in the capital markets of Latin America and the Caribbean, is granted after an exhaustive selection process, taking into account various factors such as innovation, timeliness, foresight, quality of execution and impact of the operation. The eligibility period for this year’s awards was from October 1, 2021 to September 30, 2022.
Along with appreciating the award, Cencosud’s CEO highlighted that the decision to acquire The Fresh Market (TFM) goes hand in hand with the company’s strategy of leveraging businesses in markets with higher profitability and future growth. “Our focus is to learn about the American market, generate synergies between our Supermarkets operations in Latin America and The Fresh Market, and grow the business organically, considering that TFM has the potential to triple in size in the long term.”
It is worth noting that last May, Cencosud signed an agreement with Apollo Global Management to acquire a 67% stake in The Fresh Market Holdings, a U.S. company that controls the supermarket chain of the same name with a presence in 22 states and 160 stores in that country.
LatinFinance has stood out for its leadership in financial and economic issues in the continent over 35 years of experience. Its publications have distinguished themselves by providing a high value of information to an international audience of companies, governments, financiers and investors, while its events bring together agents from these same communities to attend networking forums focused on financial dynamics.
The event, held in New York, recognized in 26 categories the main financial transactions and companies in the capital markets of Latin America and the Caribbean.
Contacts
Beatriz Monreal
beatriz.monreal@cencosud.cl
