Walmart invests $270 million in the region
Wal-mart Mexico and Central America this year will invest about $270 million in construction and remodeling of several stores in five countries in Central America, according to company reports.
Neither Belize nor Panama has a Walmart operation.
Investments in other countries involve $100 million in Costa Rica, $47 million in each of Guatemala and Nicaragua, $38 million in El Salvador and $32 million in Honduras.
With the opening in the coming months of its first Walmart-branded store in Nicaragua, the company will have at least one Walmart in every country in Central America.
The region’s biggest retailer, with over 33,000 employees, Wal-mart in addition operates super markets and other chain stores in the region under local brands.
Wal-Mart International in 2010 created the division of Mexico-Central America, following its acquisition in the year of all shares of Central American Retail Holding Company (CARHCO), at the time including 375 supermarkets and other stores in the following countries: Guatemala (124), El Salvador (58), Honduras (35) Nicaragua (33) and Costa Rica (125), and earnings prior to the acquisition of about $ 2.2 billion year.
Wal-Mart International in 2006 acquired 51% of CARHCO, which was formed in 2001 as an alliance with three equal partners: the Dutch Koninklijke Ahold; the Paiz family, the main shareholders of the group La Fragua, based in Guatemala; and Corporacion de Supermercados Unidos, based in Costa Rica.
Terms of the investment were not disclosed.
The Mexican unit of Wal-Mart, acquired in 1997 and listed on the Mexican Stock Exchange as figure, it is the largest of the company’s operations outside the United States, with about 2,300 stores.
Wal-mart is the biggest retailer in Latin America.