Cencosud evaluates acquiring Supermercados Toledo

Cencosud is evaluating the total or partial acquisition of Argentine supermarket chain Supermercados Toledo, according to Argentine newspaper La Nación and a report from Bci Corredor de Bolsa. Toledo is seeking a sale to secure liquidity while undergoing a financial restructuring process.

Founded in 1966 by the Toledo family, the chain operates 33 locations across Mar del Plata, Necochea, Miramar, Pinamar, and Santa Clara del Mar, employing about 1,500 workers. Toledo recently sold three branches to raise cash. Other potential buyers exploring a deal include La Anónima, Carrefour, Cooperativa Obrera, and investors linked to Chinese supermarket operators.

A potential deal would expand Cencosud's recent retail acquisitions across Latin America. In Argentina, Cencosud recently bought wholesale operators Makro and Basualdo for $122.5 million. It also acquired Brazilian supermarket chain St. Marche, which has 32 stores and a 7,500-square-meter distribution center in São Paulo, and acquired Makro in Colombia across 16 cities for $150 million.