Investment company buys supermarket chain in Bahia; Estimates are about 20 thousand new direct job opportunities Bahia

Atacarijo, the leading retail company in Bahia, has announced that it has been acquired by the Patria Investment Fund. According to Bahian Network, the partnership will allow the group to grow in the state and in the Northeast through an expansion plan, which will generate about 20,000 new direct jobs in the coming years.

According to a statement from Atacarijo, the network will remain under the leadership of founder Teobaldo Costa and the entire team in Bahia.

The company is a Bahian company that was created 40 years ago, initially with a fruit kiosk, and today, it is one of the largest supermarket chains in the state and the 24th largest in Brazil, responsible for creating more than 7 thousand direct jobs.

“The group will continue to pursue its mission, which is to provide the lowest prices to the people of Bahia and reduce the residents’ costs of living, thus contributing to reducing inequality,” said founder Teobaldo Costa.

Pátria Investimentos is a leading alternative asset manager in Latin America. With 35 years of history, it has a global presence and operates at national and international levels.

Atacarijo stated that in cooperation with Teobaldo Costa, who heads the general management of the supermarket chain, this partnership is expected to increasingly expand the company into Bahia.

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