Makro, one of Argentina’s leading wholesale supermarket chains, is reportedly on the verge of selling its operations and leaving the country due to the economic recession and falling consumer demand. The company, controlled by the Dutch group SHV Holding, has begun negotiations with potential buyers, signaling a possible exit after 36 years in the Argentine market.
The decision to sell comes as Makro faces a significant drop in consumption that has affected the Argentine economy. Official data from INDEC revealed that wholesale sales in June 2024 fell 14.5% compared to the same month in 2023, with a cumulative decrease of 12.6% in the first half of the year. This trend reflects a broader economic challenge, as inflation and reduced purchasing power continue to erode sales across the retail sector.
Makro’s possible exit from Argentina is part of a broader regional strategy by SHV Holding, which has already reduced its presence in Latin America by divesting operations in Peru, Venezuela and Brazil. Makro currently operates 24 stores in 10 provinces in Argentina and has been a key player in the wholesale market, competing with companies such as Maxiconsumo and Diarco.
Although the company has not officially confirmed the sale, sources indicate that Banco Santander has been tasked with facilitating the transaction, which could be valued at approximately $200 million. It is rumored that Carrefour, among other retail giants, could be interested in acquiring Makro’s assets in Argentina.
This potential sale highlights the challenges facing companies operating in Argentina’s turbulent economic environment. As companies like Makro reconsider their strategies, the landscape of wholesale and retail markets in the country could see significant changes in the coming months.
