The story
Founded by Valentim Diniz on Sep 7, 1948, in São Paulo.1
In 1948, the Portuguese immigrant Valentim dos Santos Diniz opened a confectionery in São Paulo, which he named Pão de Açúcar ("Sugarloaf Mountain") in memory of the first landscape he saw of Brazil when he arrived by boat (Sugarloaf Mountain is a rocky peak that dominates Rio de Janeiro's natural skyline).
The company planned to open more than 150 stores by 2013, targeting northeast and mid-west regions.
In September 2013, Abílio Diniz, the son of the company's founder, stepped down as chairman of the company.
In 2024, Casino reduced its stake to 22.5%.
From Wikipedia’s article on GPA (company), shared under CC BY-SA 4.0.5
