Zaffari Invests in Sao Paulo's Cash-and-Carry Segment Amid Expansion

28 Jun, 2024

 Zaffari Invests in São Paulo's Cash-and-Carry Segment Amid Expansion

  Zaffari, a Porto Alegre-based group with R$8 billion in annual sales, is accelerating investments in Rio Grande do Sul and entering Sao Paulo's cash-and-carry market with its brand Cestto. This decision comes in response to the crisis following May's floods in Rio Grande do Sul. The group plans to invest R$1.56 billion by 2026 in 11 projects, nine of which focus on retail, wholesale, and shopping malls. Construction for the Cestto unit in Sao Paulo's Taboao da Serra is set to begin this year, with permits in the final phase.

Claudio Luiz Zaffari, a director and family member, stated that the group expedited these projects to support the state during challenging times. The investment is the largest in the company's history, expected to create 2,300 direct and 900 indirect jobs. Typically, Zaffari invests around R$300 million annually, opening two to three stores per year, but this investment averages R$500 million annually.

Zaffari also owns the Bourbon Shopping Mall and two big-box stores in Sao Paulo. The Taboão da Serra store could serve as a gateway for further expansion in the region, potentially entering the supermarket segment under the Zaffari brand.

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