'Beautiful Brazil - Turning the Dream into a Reality'
Select Language:
Testimonials
"please convey my thanks to all of your team in Brazil..."
Read more >
Call us:
+44 (0)207 538 0102

Pao de Acucar to focus on North East Brazil

Date added: 13th April, 2010 at 09:31
(view all articles from April, 2010)

Categories: Salvador

Pao de Acucar is to focus its business on North East Brazil over the next few months, according to the company's chief executive officer.

Eneas Pestana said the appliance retailer is looking into possible targets in the North East of the country, a region which is said to be fast-growing, Reuters reports.

Mr Pestana added that investment in North East Brazil will enable the company to compete with rival firms Insinuante and Ricardo Eletro.

"We haven't stopped our acquisitions. We are always looking. It can always happen," he commented.

Pao de Acucar will be looking to consolidate its position in the market during 2010 after Insinuante and Ricardo Eletro agreed a merger deal recently.

Earlier this year, the company stated it intends to open around 300 new stores before the end of 2012 in an attempt to capitalise on the strength of the Brazilian economy.

Abilio Diniz, chairman of the retailer, told Bloomberg at the time that the company was in a "great moment". ADNFCR-1477-ID-19717071-ADNFCR

Email this article to a friend

Related Articles

Bahia is a 'white-hot tourism destination'

Investors may be convinced to purchase tourist property in Bahia after one news provider picked it out as one of its top places to visit over the next 12 months....

Date added: 15th January, 2010 at 10:44
(view all articles from January, 2010)

read more >

Salvador carnival 'is the world's biggest street party'

Investors may be encouraged to buy property in Salvador after Lonely Planet described it as one of the best locations to celebrate the carnival season in Brazil....

Date added: 14th January, 2010 at 08:16
(view all articles from January, 2010)

read more >

Rezidor Hotels reveals investment in Bahia

A new investment in Bahia has been announced by an international hospitality chain....

Date added: 11th January, 2010 at 08:15
(view all articles from January, 2010)

read more >
View News By Category: Apartments (7) • Economy (488) • Florianopolis (18) • Fortaleza (43) • Hotels (51) • Islands (8) • Joao Pessoa (6) • Land (1) • Natal (49) • Natural Resources (208) • Olympics 2016 (39) • Property News (248) • Rio (64) • Salvador (60) • Social and Affordable Housing in Brazil (26) • Tourism (166) • Villas (36) • World Cup 2014 (35) •
Archived News: August 2011 (13) • July 2011 (26) • June 2011 (28) • May 2011 (26) • April 2011 (24) • March 2011 (26) • February 2011 (26) • January 2011 (26) • November 2010 (22) • October 2010 (26) • September 2010 (26) • August 2010 (26) • July 2010 (26) • June 2010 (29) • May 2010 (26) • April 2010 (26) • March 2010 (27) • February 2010 (26) • January 2010 (27) • December 2009 (25) • November 2009 (27) • October 2009 (26) • September 2009 (26) • August 2009 (26) • July 2009 (26) • June 2009 (25) • May 2009 (26) • April 2009 (26) • March 2009 (26) • February 2009 (26) • January 2009 (26) • December 2008 (26) • November 2008 (27) • October 2008 (24) • September 2008 (29) • August 2008 (26) • July 2008 (39) • June 2008 (31) • May 2008 (28) • April 2008 (29) • March 2008 (3) •