Cencosud Agrees $60 Million For Economax

Chilean retail group Centros Comerciales Sudamericanos (Cencosud) has agreed to pay $60 million for local supermarket chain Supermercados Economax, owned by the Montrone family. The company has a dozen stores in the metropolitan area of the capital, Santiago, and expects sales of around $142 million this year. Cencosud is one of Chile’s largest retailers and also has a presence in Argentina.