The American Fund Catterton is in talks to buy the advanced control of retailer St, Marche classes A and B, it was the '' State ''. The deal will include the Emporium Santa Maria and the participation of 40% of the shareholders of the group in the Eataly, according to sources. It is expected that the American Fund to assume much of the debts of the St Marche, estimated at approximately 230,000,000 R$, and keep up to 70% of the business, which today are in the hands of five Brazilian investors. Is also provided for a cash payment. The other 30% belong to the Bond Fund Managment, family office of the American investor Malone Mitchell, which should keep the current participation in the network, according to sources of the financial market. The five shareholders, among them, Bernardo Ouro Preto and Victor Leal (with most relevant slices) and Rodrigo Luna, must be thinned, but may buy up to 20% of market share in the coming years. From 2015, the St Group partners seek an investor Marche for business. What was hindering the progress of the talks was the complex shareholding structure of the retailer. Founded in 2002, the Group St. Marche has 18 units. The main shareholders of the first five shops of the group are black and Gold. Other investors were getting into the business to fund the expansion, including the Bond Management. "Not all have equal shares in all stores. This question has made a deal, "said another source of financial market. It is expected that, with the entry of new investors, the shareholding structure is unified, said two sources of the financial market. The Group of about 350,000,000 R$ invoice. Banco Itaú BBA''s with the mandate, with St Marché. Sought, the Bank and the retailer refused to comment. The Catterton Fund and Bond Management did not return requests for interviews.
Premiere
The State found that Catterton executives were last week in Brazil. If the deal materializes, it will be the debut of the Fund in the country. "They are very excited and believe that, despite the economic crisis, there is room for retail food back for classes A and B to resume growth in the medium term," says a source in the financial industry. In the U.S., the Catterton has investments in about 100 brands, operating in the food and beverage retail, restaurants and consumer goods. People who have been with the Fund executives said they are willing to look at other businesses in Brazil – in the area of retail, including the consumer electronics industry, which is going through difficulties. The network was offered the Marche St strategic investors in Brazil – among them, Carrefour, Grupo Pão de Açúcar and Peninsula investment arm of the family of Abilio Diniz, according to sources. "The problem is that strategic investors did not see possibility of return on business," said a source. According to this source, to the Carrefour, the Marche, with operations in São Paulo and Grande São Paulo, is considered more elitist. For the bread of sugar, for example, was a direct competitor and, right now, the Group has gambled more multi-channel and atacarejo.
Poor performance
Market sources have claimed to state that network performance would be far below the Eataly expected by shareholders and that the Brazilian partners could undo the deal. The forecast was to bring to Brazil in 2014, but the only store was opened the following year. "There''s room for models like the Eataly in Brazil, but the network entered the country in a delicate moment of the brazilian economy. The location (in AV. President Juscelino Kubitschek, in Itaim) is not of high pedestrian circulation, limiting sales, "said a person familiar with the matter. With the crisis, the sale of fresh food and imported products was weak – the portfolio was reviewed and many products have disappeared from the shelves.
O Estado de S. Paulo
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