Cencosud’s Purchase of Wong to Greatly Benefit Peru’s Products

(LIP-ir) — With a presence in countries such as Chile, Argentina, Brazil and Colombia, the purchase of Wong by Chile’s Cencosud will greatly benefit Peruvian products.

Peru’s products can now be sold in other stores owned by the retailer, said Emilio Zuñiga, president of Latin Pacific Capital, a Peruvian investment bank.

"It is expected that many more of Peru’s products will enter international markets after this acquisition," said Zuñiga. He stated that this provided immense benefits for Peruvian producers because they could begin to massively export to other countries.

Supermarket ownership in Peru

Peru’s Expreso daily reported today that Cencosud’s purchase of Wong has tipped the scales in favor of foreign executives that have investments in Peru. According to the daily, Chilean investors now control 73 percent of the supermarket business in the country.

Considering that Chile’s Cencosud now owns all of Grupo Wong’s supermarkets and that Falabella, also Chilean, owns Tottus supermarkets, 73 percent of the market is run by foreign capital, reported Expreso.

Supermercados Peruanos (SPSA) has investments in approximately 27 percent of the market with its Plaza Vea, Santa Isabel, Vivanda, Plaza Vea Super and Mass stores.