Type Subsidiary Website www.amigo.com Founded 1989 | Industry Retail Headquarters San Juan, Puerto Rico Parent organization Walmart | |
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Products Bakery, dairy, deli, frozen foods, general grocery, meat, pharmacy, produce, seafood, snacks, liquor | ||
Amigo Supermarkets (Supermercados Amigo in Spanish) is a chain of supermarkets located in Puerto Rico owned by Walmart.
Contents
Beginnings
Supermercados Amigo was opened by Jose Marti Fuentes. During the company's formative years, it operated small supermarkets across the island; these would be located at small strip malls. Many towns in Puerto Rico had multiple Supermercados Amigo locations.
The transformation
After the Grand Union and Coop Supermarkets companies ceased operations in Puerto Rico, Amigo began plans to become a major player in Puerto Rico's supermarket industry. In 1989, they opened their first major store, located at Plaza del Carmen Mall, in Caguas. Subsequently, many other major stores were opened across Puerto Rico. A massive television campaign began, and their slogan, Amigo, lo mejor al mejor precio (Amigo, the best at the best prices) became a household phrase in Puerto Rico.
Economic problems
Amigo ran into serious economic problems in the 1990s, most of them having to do with employee salary. As a consequence, the company began losing money. There were several strikes, and these received wide media attention.
Walmart
In July 2004, in what became a controversial business move, American retail giant Walmart took over Supermercados Amigo. Claims of unfair competition and monopoly were instantly made by smaller supermarkets, because Amigo would be backed by the strong assets of Walmart. As part of the agreement made in order for the purchase to take place, various supermarket locations had to be closed (specifically if there was a Walmart or Sam's Club nearby). The closed Amigos became part of a new (at the time) supermarkets company known as "SuperMax" and "Pitusa Markets"
The structure of the supermarkets themselves was not changed because of the purchase, the only exception being that now customers may pay for their purchases with their respective Sam's Club or Walmart Credit Cards.
In January 2016, Walmart announced it would close four Amigo stores (plus all three Super Ahorros stores) located throughout the island, as part of a larger wave of store closures.