Assaí buys 18 gas stations for up to R$ 80 million

On Thursday, 17 September 2026, Brazilian wholesaler Assaí signed an agreement with Centro de Conveniências Millennium to acquire 100% of the capital of companies operating 18 gas stations. The stations are already located at existing Assaí stores throughout the state of São Paulo. The transaction is valued at up to BRL 80 million.

Assaí plans to fund the deal in three tranches. A deposit of BRL 40 million will be paid after approval by Brazil's antitrust regulator, the Administrative Council for Economic Defense (CADE). Another BRL 35 million will be disbursed upon closing the acquisition of each company, alongside an earn-out of up to BRL 5 million tied to operational milestones. Assaí can assume operation of each location starting on 31 July 2027, subject to customary closing conditions.

The company serves more than 40 million customers monthly and estimates monthly traffic of roughly 20 million vehicles at its stores. Assaí stated that entering the retail fuel segment helps dilute fixed costs by adding a new revenue stream to its existing store footprint and parking lots.

The 18 units form the initial footprint for a broader strategy. Company studies point to a long-term potential to expand to more than 100 fuel stations across Assaí stores, subject to project viability, available space, municipal licensing, and corporate approvals.