October 26, 2018 / 3:23 PM / 23 days ago

Brazil's GPA to shake up formats, bet big on Assai, Compre Bem

SAO PAULO, Oct 26 (Reuters) - Brazilian food retailer GPA plans to shake up formats, betting big on its wholesale Assai stores and regionally focused Compre Bem stores while cutting other brands, executives said on Friday.

In a conference call with analysts, executives said they planned to open 12 Compre Bem stores, 23 Mercado Extra supermarkets and 11 Assai stores by year-end. GPA sees potential to effectively eliminate its 187 mid-scale Hiper and Extra Super brands via conversions into other formats, Chief Executive Peter Estermann said.

Reporting by Gabriela Mello Writing by Gram Slattery Editing by Frances Kerry

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