The Walmart Brazil retail chain decided to transfer its name in the country to the “Big Group”, approximately one year after 80% of its operations were acquired by Advent investment company.
The company expects investments of 1.2 billion reais (US $304 million) in Brazil over the next 18 months to modernize and expand its stores, which will focus more on wholesale formats, explored by rivals such as GPA and Carrefour Brazil, and the purchasing club.
The now Big Group currently operates around 550 stores and 50,000 employees in 18 Brazilian states, as well as the Federal District. The company claims to be the third largest food retail conglomerate in Brazil.
“Walmart hypermarkets in the south and southeast will be renamed BIG, while in the northeast, all hypermarkets will be Big Bompreço,” the company said in a press release.
“By June 2020, the expectation is to complete the reform of 100 hypermarkets,” the company said.
According to the company Sam’s Club will open ten new stores within the next year. The first one will open earlier this quarter and by the end of the year, three more units will open, the company said.
“This movement is part of the hypermarket conversion project for Maxxi Wholesale and Sam’s Club,” the group said.