Walmart brand to be dropped from supermarkets in Brazil
Reporting by Carolina Mandl, Reuters
August 12, 2019
SAO PAULO (Reuters) - Private equity firm Advent International Corp will drop the Walmart Inc (WMT.N) brand from supermarkets it acquired last year in Brazil by June 2020, the Brazilian retailer said in a statement on Monday.
The retailer itself will also be renamed to Grupo BIG from Walmart Brasil, it said.
The rebranding comes roughly one year after the world’s biggest retailer sold 80% of its Brazilian operations to Advent, partially exiting an underperforming business and taking a non-cash charge of roughly $4.5 billion.
Nearly 100 stores currently using the Walmart brand will be rebranded to BIG and BIG Bompreço, regional brands Walmart already used in the past. Another 27 Walmart stores will be turned into cash-and-carry stores Maxxi and membership-only retail chain Sam’s Club.
The rebranding is likely to yield operating savings to the retailer...