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PriceSmart, Inc. Announces Property Acquisition For Third New Warehouse Club In Colombia
PriceSmart, Inc. announced that on March 15, 2012 it acquired approximately 12,000 square meters of land in North Cali, Colombia, upon which the Company plans to construct and operate a new PriceSmart Warehouse Club, which would be its third in Colombia. In August 2011 PriceSmart successfully opened its first Colombia Warehouse Club, in the city of Barranquilla, and recently has commenced construction of a new Warehouse Club in South Cali. It is currently anticipated that the South Cali PriceSmart Club will open in October 2012, and that the North Cali PriceSmart Club will open in the spring of 2013. Terms were not disclosed.
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