BH Supermarkets surpasses the final obstacle in Cade and moves forward to establish a group worth R$35 billion.

Cade approved the second operation involving BH Supermarkets and DMA Distribuidora without any restrictions. The deal involves the mining group acquiring 114 retail stores in Minas Gerais.

The operation is a result of the agreement made in April by the two companies to combine their operations. The combined group will have approximately 600 stores, distribution centers, and fuel stations operating in Minas Gerais, Espírito Santo, Bahia, and Pernambuco.

DMA and BH Supermarkets combined will create a group with approximately R$35 billion in yearly revenue.

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Cade approved the initial regulatory process for the business in May, allowing the transfer of 40 DMA stores, three fuel stations, and two distribution centers.

BH Supermarkets is progressing on additional assets outlined in the agreement following a recent endorsement. Originally, the deal encompassed 120 stores, however, six units were excluded due to competition concerns raised by Cade during the assessment of the operation.

Shops in various locations in Belo Horizonte were not involved in the transaction.

According to Cade, the companies added an amendment to the contract on September 3rd. The six units will continue to be managed by DMA. This adjustment expanded the operation to include 114 stores (103 supermarkets and 11 convenience stores).

After the operation, DMA will maintain 17 retail stores in Minas Gerais, according to Cade’s report.

Giant worth $35 billion

The April announcement brings together two of the biggest supermarket chains in the country.

Pedro Lourenço, the entrepreneur behind BH Supermarket and owner of Cruzeiro, established a successful business with 409 stores and a revenue of R$ 26 billion in 2025, as reported by the Brazilian Association of Supermarkets (Abras). BH Supermarket was positioned as the fourth largest company in the industry.

DMA generated R $ 9 billion in revenue during the same year and ranked 14th.

BH Supermarkets’ operations are expanding geographically, with plans to extend their network beyond Minas Gerais and Espírito Santo to include Bahia and Pernambuco under the DMA brand.

The company’s consolidation further establishes it as a key player in the Brazilian food retail sector, giving it the ability to work with suppliers, enhance logistics, and compete with major national and regional chains like Carrefour and Assaí.

Competition in Minas Gerais

Cade found similarities between BH and DMA activities in 107 units across 18 mining municipalities. In 16 markets, the operation was examined through a summary procedure, while in the remaining 91, they evaluated the potential for exerting market power.

Cade concluded that the merger would not have the ability to greatly lessen competition as there are various networks at different levels that can compete with the merged entity.

The ruling also affected the expansion of the markets studied from 2021 to 2025, with no particular obstacles for new competitors to enter and with opportunities for other networks to grow and expand.

In Belo Horizonte, 67 significant markets were examined, and it was reported that the competitors collectively had a greater number of stores and check-out counters compared to the companies participating in the operation. BH and DMA have also experienced a decline in market share in certain areas in recent years.

Cade emphasized that the market participation calculations might be inflated as not all competitors participated in the market test.

The body approved the operation without imposing additional conditions after finding no likelihood of exercising market power, except for the six sensitive units.

Searches, DMA and BH Supermarkets did not provide a response.