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07.08.08
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BNDES provides R$ 193.4m financial support to expand the retail chain G. Barbosa
BNDES approved a R$ 193.4m financing arrangement for the retail chain G. Barbosa Comercial Ltda. to accomplish its investment plan 2007/2009. Eighteen new stores will be implemented, 5 existing units will be expanded and the entire chain, distributed through the states of Sergipe, Bahia and Alagoas, will be upgraded. The project will generate 4,874 direct jobs, 56% increase in the company’s staff.
BNDES’ funds will be mainly used in civil works, assembly and facilities, and purchase of Brazilian machines and equipment. The financing corresponds to 70% of total investment to be made by G. Barbosa, of R$ 276.3 million. The company will give the remaining R$ 82.9m.
Out of the 18 new stores to be implemented, three will be hypermarkets (sales area above 5,000 m²); nine small hypermarkets (sales area between 2,500 and 5,000 m²); three superstores (sales area between 800 and 2.500 m²); and three of them will be electroshow stores (sales area between 100 and 250 m²).
According to the Brazilian Association of Supermarkets (Abras), G. Barbosa ranks among the five largest supermarket chain in Brazil. It is the largest company in Sergipe and the second in the Northeast. It has 46 stores in Sergipe, Bahia and Alagoas, and employs around 8.6 thousand
people.
Founded in 1955, by the trader Gentil Barbosa, the company started activities as a grocery store in the commercial center of Aracaju. Today, its shareholding control is in the hands of the Chilean group Cencosud, which operates in the segments of supermarkets, homecenters, shopping centers, entertainment and department stores, mainly in Chile and Argentina.
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