Costa Rica’s competition regulator, the Comisión para Promover la Competencia (Coprocom), disapproved Walmart’s acquisition of the Grupo Empresarial de Supermercados (Gessa) – owner of the Perimercados, Super Compro and Saretto supermarkets.
Walmart said on Thursday the Coprocom notified the company that it opposed its plan to buy 52 local supermarkets, which would grow its number of stores in Costa Rica from its current 252 to more than 300.
“It was voted unanimously to deny the concentration. That is, the request for economic concentration between the two parties was denied: Supermercados Unidos (Walmart stores) and the Grupo Empresarial de Supermercados (Gessa stores)”, explained the president of Coprocom, Rodolfo Chévez.
Chévez added that the commission considered that the purchase would give Walmart, who already has “a lot of market power”