Br Supply acquires Staples operations in BrazilValor Internacional
Br Supply, which sells office supplies, bought the operations of Staples in Brazil, advancing toward its goal of reaching R$1 billion revenues by 2023. The plan of controlling shareholder Cesar Folle is to participate actively in the industry’s consolidation and make, every three years, an acquisition of the size of the US multinational. The transaction amount was not disclosed, but according to Mr. Folle, the funds came from Br Supply’s cash and bank financing. Staples arrived in Brazil in 2005 and reported sales of R$120 million last year, while its buyer had revenues of R$300 million.