Guatemala City, Guatemala. – CoreCo Private Equity, the private equity fund targeting investments in Central America and the Dominican Republic, has announced an investment in Directores Estratégicos S.A. (“SAL”), a Guatemalan company that has been granted the license to develop and operate Save-a-Lot supermarkets in Guatemala and the Central America region.
“We are delighted to partner with CoreCo in the launch of Save-a-Lot supermarkets into the Guatemalan market,” stated SAL CEO, Susana Lenhnoff de Poole. “The Company will focus on the medium and high-income segments that perceive a higher quality in US products, which are not offered currently. The stores will have the private brands that Save-A-Lot owns giving the opportunity to offer exclusive products that are not found anywhere else and also products, similar to the ones found in other supermarkets, but at a lower price and without paying a membership fee.”
“Traditional markets are still a strong channel for shopping and modern supermarkets have a high growth potential for the region,” commented Alex von de Goltz, General Partner at CoreCo, “The quality standards that Save-A-Lot requires combined with the experience of the management team in customer service will differentiate the stores, which will have operational levels higher than the average supermarket store in the country.”
Susana Lenhnoff de Poole, CEO, has been in the retail business for more than 20 years. Her background includes senior job responsibilities at the largest retail companies in the Central America region: Walmart, Cemaco, Pricesmart, Office Depot, Paiz and Ahold. Along with Ms. Poole, the team she is bringing to the Company has an extensive experience in strategic positions (Operations, Purchasing, Logistics, Human Resources) in the above-mentioned retail companies.
About CoreCo: CoreCo is a private equity firm focused on making investments in Central America with offices in Miami, Guatemala, and Costa Rica. The partnership targets growth equity investments across diverse sectors with the view that portfolio companies have the potential to become regional leaders in their respective sectors.
About SAL: Supervalu Inc. is one of the largest grocery wholesalers and retailers in the USA with annual sales of approximately US$17 billion and more than 35 thousand employees. Save-a-Lot, the largest hard discount grocery chain in the USA with more than 1,300 stores nationwide is a wholly owned subsidiary of Supervalu Inc. It carries both private and national brands. Directores Estratégicos S.A. will bring the brand Save-a Lot to Guatemala to fill in an unmet need for imported products from the USA.
CoreCo Private Equity