Advent in Advanced Talks to Acquire Brazilian Supermarket Chain Sonda for $653.5M
US private equity firm Advent is in advanced talks to acquire Brazilian supermarket chain Sonda. The deal, valued at up to 3.5 billion reais ($653.50 million), could be one of the largest in Brazil's food retail sector recently.
The Sonda family has been considering a sale for about two years due to succession issues. The passing of Idi Sonda, one of the founders and Delcir's brother, in 2022 has increased the likelihood of a sale. Carlos Sanchez, the sole shareholder who hasn't resolved outstanding issues, is currently in negotiations with Advent.
Advent has been exploring Brazil's grocery market, visiting regional grocers like Angeloni. They are considering creating a food retail investment division, with a larger scale than Pátria's Plurix holding. Advent's strong presence in Brazil's retail sector, demonstrated by their 2018 purchase and 2021 sale of Walmart Brazil to Carrefour, makes them a formidable contender.
Advent's acquisition of Sonda, if materialised, would significantly impact Brazil's food retail sector. The deal's value, up to 3.5 billion reais, reflects Sonda's estimated 2025 gross revenue of 6.5 billion reais. While Grupo Pereira had initially shown interest, Advent appears to be the front-runner in acquiring the Brazilian supermarket chain.
