SAO PAULO (Reuters) - Brazilian businessman Carlos Wizard Martins bought a 35-percent stake in English language training school chain Wise-Up for 200 million reais (49.87 million pounds), the company said in a statement on Monday.
With the acquisition, Martins returns to Brazil’s education sector after selling a language education chain he founded to Britain’s Pearson Plc (PSON.L) three years ago, for 2 billion reais.
Since then, Martins acquired Brazilian health foods store chain Mundo Verde Ltda for an undisclosed value.
Wise-Up, which is controlled by Brazilian entrepreneur Flávio Augusto da Silva, operates 250 foreign language schools in Brazil and expects to reach 320 units by year-end.
Reporting by Tatiana Bautzer; Editing by Christian Plumb and Sandra Maler