Sendas was founded in 1974, when its founder opened the first Assaí Atacadista store, focused on supplying small businesses.
CDB, a Casino Group company, acquired part of the Company’s capital stock in 2007 and the remaining interest in 2011, becoming the sole owner of the Company. Before it was acquired by CBD, the Company operated only in São Paulo state, later it expanded its operations: at the end of 2008, it had 28 stores in the states of São Paulo, Rio de Janeiro and Ceará; and at the end of 2011, it had 59 stores in the states of São Paulo, Rio de Janeiro, Ceará, Tocantins, Pernambuco and Goiás, as well as in the Federal District.
In 2016, CBD reorganized its assets in order to concentrate its business under the Assaí brand in the Company and the multi-retail business in CBD, through the following transactions: (i) spin-off of the Company with the transfer of the Company’s assets and liabilities related to multi-retail stores to CBD; (ii) merger of Barcelona Comércio Atacadista e Varejista S.A.; and (iii) merger of Xantocarpa Participações Ltda. As a result of these mergers, all the cash & carry stores were transferred to the Company.
In July 2017, the Company launched the Passaí card, through a joint venture with Banco Itaú, and started offering financial services in all its stores. The card has proven to be increasingly important for our customers and the Company. With a portfolio of over 1 million cards that account for 5 % of sales, it has a value proposition that enables clients to pay wholesale prices buying only one item, reinforcing its positioning of delivering advantages and economy to its customers.
In 2017, the Company became the Casino Group’s largest brand in terms of gross revenue worldwide. In 2018, 2019 and 2020, it was appointed one of the 25 best Brazilian brands by Interbrand.
On July 24, 2019, the Board of Directors of CBD, the Company’s then controlling shareholder, recommended that the Company approve the launch of a tender offer for the acquisition of all the shares of Almacenes Éxito S.A. (“Éxito” and “Éxito Tender Offer”, respectively), a publicly held company located in Colombia that operates in that country under the Éxito, Carulla, Super Inter, Surtimax and Surtimayorista supermarket and hypermarket brands, in Argentina under the Libertad brand and in Uruguay under the Disco and Devoto brands. Éxito also operates in Colombia in the shopping mall market, under the Viva brand.
The Éxito Tender Offer was launched in October 2019, and, on November 22, 2019, the Colombian Stock Exchange announced that shareholders holding 96.57 % of Éxito’s capital stock accepted the Éxito Tender Offer. This represented the disbursement of an amount equivalent of R$9.5 billion (based on the exchange rate on November 22, 2019). The Éxito Tender Offer was settled on November 27, 2019, and was partially paid with the proceeds from the Company’s first issue of simple, non-convertible debentures.