Wal-Mart expanding in Guatemala
Worldâ€™s largest chain of retain stores Wal-Mart have announced plans to make a gala entry into the Central American region. They are collaborating with the local supermarket operators in Guatemala to start their operations in the region. They would be acquiring 33 percent of Central America Retail Holding Corp.
Central America Retail Holding Corp operates two supermarket chains with a total of 250 stores in the region. However, no financial details have been released in the media by the two parties involved. Both the companies are expected to release more details in a press conference scheduled for today.
Wal-Mart is expanding pretty fast as they recently reached a deal to purchase the assets from the Dutch firm Royal Ahold who are planning to move out of the Latin American businesses. They already have attained the number 1 status in the Mexican region with their Wal-Mart’s Mexico unit, Walmex. The company is also trying hard to make an entry into the lucrative market of India.