Acquisition of 29 Super Inter
Éxito Warehouses is pleased to report that yesterday the Company exercised the option that guarantees the acquisition of 29 trading establishments identified with the brand name "Super Inter". and the intellectual property associated with the brand Super Inter is a product of Giraldo Gomez Marketer according to the agreement signed on February 8, 2014, and authorized by the Board of Directors at its meeting on September 24, 2013. The Board of Directors approved the agreement.
As a result, Éxito acquires ownership of the commercial establishments, which have already been integrated into its operation since October 2014. In the same way, Éxito acquires ownership of the trademarks, trademarks, logos and others related to the intellectual property associated with the trademark, the use of which was guaranteed by a license agreement. Finally, all operating contracts and licensing agreements have been completed, with the obligations of each party being finalized.
This transaction, worth $340,billion, met all the conditions set by the Superintendence of Industry and Commerce with the sale to a competitor of 4 of the 50 trading establishments initially included in the transaction, in other words, the sale of 2 of the 19 warehouses that are part of the purchase agreement and 2 of the 31 warehouses included in the operating agreement.
Ëxito is now the owner of 46 stores identified with the Super Inter Brand, strengthening its participation in the Colombian market and expanding its presence in the Cauca Valley and the coffee region, the third largest retail market in Colombia.