BRASILIA, Aug 11 (Reuters) - Brazilian retailer Lojas
Americanas SA said on Wednesday it had agreed to
acquire grocery chain Hortifruti Natural da Terra for 2.1
billion reais ($402 million), in a strategic move into the fresh
Hortifruti offers fresh produce through 73 stores in four
Brazilian states, generating 2 billion reais in unaudited gross
revenue in the year ended June 30, according to a securities
filing by Lojas Americanas on the deal.
Americanas, controlled by the founders of investment holding
3G Capital led by Jorge Paulo Lemann, already has a large
e-commerce operation it has decided to integrate in April.
Hortifruti, controlled by Swiss private equity firm Partners
Group AG, will be sold for nine times its earnings before
interest, taxes, depreciation and amortization (EBITDA), a
common operational profit gauge.
Hortifruti in April filed plans to go public with Brazilian
securities industry watchdog CVM.
($1 = 5.2187 reais)
(Reporting by Jake Spring and Tatiana Bautzer; Editing by
Leslie Adler and Richard Chang)