Makro supermarkets say goodbye to Milei forever

One of large supermarket chains Argentina has announced its withdrawal from the country due to the economic downturn that has gripped the region. It is Makro, a company owned by the Dutch HSV group, which put 24 branches up for sale distributed among ten provinces with the aim of obtaining at least The deal was worth $200 million.

Makro started its operations in Argentina in 1988, with the opening of its first store in the city of Olivos, in collaboration with businessman Francisco de Narvaez, who at the time controlled the Tia supermarket chain.

Since then, the company has established itself as a key player in the wholesale sector, compete with others national networks such as Maxiconsumo, Diarco, Vital and Yaguar. However, his time in this country is coming to an end.

Reduce your presence in America

HSV Group awarded mandate for sale to international bank which operates in Argentina and has already begun negotiations with potential buyers, including relevant wholesale players and local supermarket chains.

This decision is in line with the company’s trend reduce its presence in America Latina, after withdrawing investments from markets like Peru, Venezuela and Brazil years ago. Macro’s departure from the country undoubtedly marks a an important milestone in the industry.