Muffato brothers increase stake in Assaí to 15.02%

Entrepreuners Ederson and Everton Muffato, owners of the Super Muffato and Max Atacadista networks, have increased their shareholding in Assaí Atacadista to 15.02%. This stake, which includes ordinary shares and derivatives, makes their group the largest investor in the company, surpassing the South African manager Orbis, which held 11.56% of ordinary shares.

The investment group also includes the funds Snapper Rocks Strategy, WHG Apache, and Exitus. In a statement to the market, the investors declared they have no intention of changing the company's controlling ownership or administrative structure.

This movement follows approval from the Administrative Council for Economic Defense (Cade) last month. Cade's 140-day analysis concluded there was no relevant competitive risk despite overlapping store locations in 66 markets across 20 municipalities in São Paulo and Paraná. The brothers committed to maintaining the independence of their companies, avoiding the exchange of commercially sensitive information.