Chilean retail group Cencosud has agreed to acquire the entirety of Makro Supermayorista in Colombia for an estimated $158m (145.75bn pesos), adding a wholesale business to its existing in-country presence.
The deal will be executed through Cencosud's subsidiary Cencosud Internacional and financed entirely from internal resources.
It remains subject to standard closing conditions including regulatory clearance from Colombia's Superintendence of Industry and Commerce.
Cencosud said the Colombian addition is expected to yield operational, logistical and commercial synergies.
Makro has operated in Colombia for more than 25 years and runs 21 stores across 16 cities, covering major urban centres including Bogotá, Medellín, Cali and Barranquilla.
The business operates under the cash and carry format, serving professional buyers and entrepreneurs.
The purchase comes after Cencosud acquired Makro's Argentine operations in 2025 and builds on its management of the Giga wholesale format in Brazil, reinforcing the group's broader push to grow its cash and carry presence across Latin America.
Cencosud Colombia country manager Ramiro Ortiz said: “Makro’s acquisition represents an opportunity to strengthen our operations in Colombia and expand our offering for customers seeking wholesale solutions, with a focus on service, assortment and competitiveness.”
Earlier this year, Cencosud set out plans to invest $600m in capital during 2026 to expand its retail operations.
That plan includes opening 20 stores across different formats, adding more than 42,000m² of sales area, including 17 supermarkets.
In the first quarter of 2026, Cencosud recorded revenues of 4.04tn pesos, up 0.2% year-on-year.
The modest rise was primarily driven by foreign exchange effects that weighed on Chilean peso-denominated income from its Argentine unit.
Net income came in at 102.14bn pesos, a 19.2% decline from the prior-year period, attributed to currency movements and increased deferred taxes related to Argentina's hyperinflation accounting adjustment.
