Casino-owned Grupo Pão de Açúcar has acquired a 51% stake in electricals chain Casas Bahia, a rival to its Ponto Frio fascia.
Casas Bahia operates 513 stores in Brazil and focuses strongly on white goods, furniture and electronics.
The existing shareholders of Casas Bahia will retain a 49% stake in the retailer.
As part of the deal, Grupo Pão de Açúcar and Casas Bahia will also join forces online, bringing together Ponto Frio and Casas Bahia under one electricals etail banner, in a venture called Nova PontoCom. Grupo Pão de Açúcar will hold an 83% stake in the venture and Casas Bahia will have a 17% shareholding.