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    Home»Investments»Private equity firm Advent has profit over 300% on Brazil deal
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    Private equity firm Advent has profit over 300% on Brazil deal

    March 24, 20211 Min Read
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    Private equity firm Advent International had a profit of around 300% in its investment in Brazilian supermarket chain BIG after agreeing to sell it to Carrefour Brasil for 7.5 billion reais ($1.4 billion), in local currency terms.

    According to public data, since acquiring 80% of BIG for a token value from Walmart Inc 2-1/2 years ago, Advent spent around 1.6 billion reais on the supermarket chain. The final result for the private equity firm will be around 6.6 billion reais, considering the price paid by Carrefour and other small previous asset sales by BIG.

    Advent changed the Walmart brand to BIG, revamped cash and carry operations under the brand Maxxi and focused on the growth of Sam’s Club, which had 25 stores and is close to 45 now, according to Advent partner Wilson Rosa.

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    Source: Reuters

    By Tatiana Bautzer

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