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Pepkor, SA’s largest retailer by store footprint, is eyeing growth in South America’s most populous country through the acquisition of Brazilian retailer Grupo Avenida.

The owner of Pep, Ackermans and Incredible Connection will acquire an 87% stake in a group with 130 stores in Brazil, a lower-to-middle-income country with 212-million people, making it one of the world’s biggest apparel markets...

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