Assaí acquires 18 fuel stations in São Paulo for up to R$ 80 million

Assaí Atacadista has signed a contract to acquire the total capital of companies owning 18 fuel stations located at its stores in the state of São Paulo. The deal with Centro de Conveniências Millennium is valued at up to R$ 80 million, including an earn-out component based on performance targets.

The acquisition is part of a strategy to create new growth avenues by diversifying services and increasing customer engagement. Assaí aims to leverage its existing infrastructure, which serves over 40 million customers monthly and sees approximately 20 million vehicles passing through its locations. The company views this as a pilot project with the long-term potential to expand the network to over 100 stations.

Financial analysts have offered mixed perspectives. XP Investimentos noted the strategic merit and potential for incremental EBITDA, though it cautioned about the added operational and regulatory complexity of the fuel segment. Bradesco BBI suggested the move might indicate a need to optimize existing assets as the core business reaches maturity. The transaction is subject to approval by the Administrative Council for Economic Defense (Cade) and environmental licensing, with Assaí expected to assume operations after July 31, 2027.