May 1, 2023
a Le Biscuit Storeswhich was founded in Feira de Santana more than 50 years ago and consolidated as one of the largest retail chains in the state, has completed the merger with the group home videoAccording to a material fact published last Saturday (29).
Together, the two chains have nearly 400 stores spread across 15 states, serving mostly Class B and C customers, with sales revenue of approximately R$2.7 billion in the past 12 months..
The completion of the operation was made possible after a meeting, last Friday (28), between the shareholders, who approved the merger of the shares of Casa & Vídeo by Le Biscuit from Bahia. Now, Casa & Vídeo now owns 74.97% of the company, with the remaining percentage remaining with the existing shareholders of Le Biscuit.
Casa & Vídeo has a strong presence in the Southeast, while Le Biscuit operates in the Northeast. With the merger, the CVLB Business Group — the first two initials of each retailer. The new company will have about 5,000 employees.
“We want to be bigger and better. Mergers of companies will deliver economies of scale, increased efficiency and increased investment capacity. With the customer at the center of our decisions, these gains will enable us to grow and delight the consumer more,” he says. Ivo BendrothCEO of CVLB Corporation.
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