WAL-MART BUYS BIGGEST PUERTO RICO FOOD CHAIN.(Supermercados Amigo Inc.)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, February, 2002
BENTONVILLE, Ark.-Wal-Mart Puerto Rico has acquired Supermercados Amigo, which the discounter bills as the commonwealth's number-one supermarket chain.
Supermercados Amigos, which operates 35 stores, will retain its Amigo brand name, and Jose Revuelta will remain president. He will also become chief operating officer of Wal-Mart Puerto Rico, and will lead the company's food division.
Wal-Mart's acquisition of Supermercados Amigo is contingent upon the approval of government authorities.
If approved, Wal-Mart Puerto Rico will operate 52 units on the island, including nine Wal-Mart stores, one Wal-Mart Supercenter, seven Sam's Clubs and 35 Amigo supermarkets.
The retailer said it will invest more than $400 million in the Puerto...
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