Cencosud Buys Makro Colombia for $158M in Cash & Carry Push
Chilean retail giant Cencosud acquires 100% of Makro Supermayorista in Colombia for $158M, expanding its wholesale footprint across Latin America.
Chilean retail conglomerate Cencosud announced Monday it has completed the acquisition of 100% of Makro Supermayorista in Colombia, paying an estimated $158 million entirely from its own cash reserves in a move designed to deepen its grip on the Latin American wholesale market.
The deal was executed through Cencosud's subsidiary Cencosud Internacional SpA. By absorbing Makro's operations, Cencosud gains immediate scale in the Cash & Carry segment — a warehouse-style wholesale format that serves both individual consumers and small business buyers seeking bulk purchasing power.
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Makro brings more than 25 years of established brand presence in Colombia and currently runs 21 stores spread across 16 cities, including the capital Bogotá. That ready-made network gives Cencosud a significant head start in a market that would otherwise require years of organic store development to replicate.
The all-cash financing structure signals confidence in Cencosud's balance sheet and avoids dilutive debt, a strategic choice that analysts often view as a positive indicator of corporate financial health. The acquisition also marks a clear regional ambition: the company framed the deal explicitly as part of broader wholesale expansion across Latin America, suggesting further moves in neighboring markets could follow.
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