October 27, 2017 / 2:23 PM / a year ago

GPA bets on organic growth, similar strategy for 2018: CEO

SAO PAULO, Oct 27 (Reuters) - Brazilian retailer GPA SA is currently focused on organic growth rather than acquisitions, Chief Executive Ronaldo Iabrudi said in a conference call on Friday following the release of the company’s quarterly results.

Iabrudi said GPA, owned by France’s Casino Guichard Perrachon SA, will maintain a similar overall strategy and capital expenditure level next year compared to 2017. The company is focused on food retail, he said, and GPA has not changed its plans to sell appliance retailing unit Via Varejo , which has struggled to attract potential buyers after being put on the block late last year. (Reporting by Gram Slattery)

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