A statement posted on the website of Chile's securities regulator on Friday has confirmed that Chile's largest retailer, Cencosud, has agreed a deal to purchase Brazilian chain Supermercados Bretas for US$814m.

As part of the purchase, Cencosud will take on 62 new supermarkets, three distribution centres and 10 service stations, effectively doubling its presence in the Brazilian market.

Cencosud's statement revealed that sales may increase from 2.1bn reals (US$1.2bn) in 2009 to 2.5bn reals (US$1.5bn) by the end of 2010.

'With this strategic acquisition Cencosud enters the state of Minas Gerais and Goias, consolidating its position in Brazilian supermarkets,' the group noted.

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