Key Facts

—The deal. Chile’s Cencosud agreed on June 24 to buy all of St. Marche, a premium grocery chain in São Paulo.

—The size. St. Marche runs thirty-two stores and rang up about 1.08 billion reais, or 216 million dollars, in yearly sales.

—The pivot. The buyer is moving up-market, having just sold a cheaper Brazilian chain to free up cash.

—The rival. St. Marche is a smaller challenger to Pão de Açúcar, the dominant upscale grocer in Brazil.