Chilean mall operator enters Bogotá with $125 million USD majority stake

Cenco Malls (BCS: CENCOMALLS), the shopping center arm of Chilean retail conglomerate Cencosud (NYSE: CNCO, BCS: CENCOSUD), has closed the acquisition of a 51% indirect stake in Plaza Central, one of Bogotá’s largest shopping centers, for $125 million USD. The transaction was completed June 3, 2026, following the fulfillment of all conditions established in the agreement between Cenco Malls’ Colombian subsidiary, Cencosud Col Shopping S.A.S., and Patrimonio Autónomo Estrategias Inmobiliarias (BVC: PEI), Colombia’s largest real estate investment vehicle, which retains a 49% stake in the asset.

Plaza Central, inaugurated in October 2016, is located in the Puente Aranda district of Bogotá, at the intersection of three major arterial roads — Avenida de Las Américas, Calle 13, and Avenida 68 — with direct access to mass transit. The mall serves a predominantly middle-income residential and commercial catchment area, within one of the city’s most active business corridors.

“We expect this acquisition to have a favorable effect on the consolidated results of the company, incorporating a relevant asset for the region into our portfolio.” — Sebastián Bellocchio, CEO, Cenco Malls

According to figures reported at year-end 2025, Plaza Central has 204,832 square meters of total built area and 76,520 square meters of gross leasable area (GLA), with occupancy of approximately 95%. The property generated revenues of 79,098 million COP in 2025. The mall holds LEED certification in both Design and Construction and Operations and Maintenance, and has approximately 1,000 solar panels installed.

“We expect this acquisition to have a favorable effect on the consolidated results of the company, incorporating a relevant asset for the region into our portfolio and strengthening the experience we offer visitors to this shopping center,” said Sebastián Bellocchio, CEO of Cenco Malls.

The deal adds a significant Colombian asset to Cenco Malls’ regional portfolio, which currently comprises 41 shopping centers and 1,450,560 square meters of GLA across Chile, Peru, and Colombia. The company was listed on the Santiago Stock Exchange in June 2019 in what was at the time the largest initial public offering in the Chilean market.

PEI, which will continue as a 49% partner in Plaza Central, is Colombia’s largest real estate investment vehicle, with stakes in more than 150 income-generating assets across more than 30 cities. Its equity securities trade on the Colombian Stock Exchange (Bolsa de Valores de Colombia) under the ticker PEI.

Headline Photo: Plaza Central in Bogotá (courtesy Cenco Malls)

The Colombia-founded company has processed more than 100 million transactions and works with nearly 100 retailers and marketplaces

Instacart, a US grocery technology company serving more than 2,200 retail banners and nearly 100,000 stores, announced the acquisition of Instaleap, a Colombia-founded fulfillment and retail technology platform operating in nearly 30 countries, in a deal whose financial terms were not disclosed.

The transaction represents one of Instacart’s most significant international moves since going public in 2023 and strengthens its expansion outside North America, particularly in Latin America, Europe and the Middle East.

Instacart, which trades on Nasdaq under the ticker CART, is seeking to expand its enterprise technology platform focused on omnichannel commerce and the digital transformation of supermarkets and retailers.

“We see a meaningful opportunity to expand internationally through an enterprise-led strategy that empowers retailers across the globe to meet the evolving omnichannel needs of their customers,” Ryan Hamburger, chief commercial officer at Instacart, said in the company’s statement.

Global expansion driven by Latin American technology

Instaleap develops software solutions for supermarkets, pharmacies and consumer goods retailers, enabling them to manage orders, logistics, picking operations and customer experience across digital channels.

The company has processed more than 100 million transactions and maintains commercial relationships with nearly 100 retailers and marketplaces outside North America, including Cencosud, Éxito, Makro, Continente, Jerónimo Martins (owners of Tiendas Ara), Lulu, and SPAR.

The acquisition also allows Instacart to accelerate its presence in regions where it previously had limited operations. The company had already begun deploying products such as Storefront Pro and its AI-powered Caper Carts in Europe and Australia but lacked a consolidated network in Latin America and the Middle East.

Instaleap to continue operating as subsidiary

According to the companies, Instaleap will initially continue operating as a wholly owned subsidiary of Instacart to ensure continuity for existing customers during the integration process.

“We’ve built our platform with a deep focus on the unique needs of grocery retailers across diverse international markets. Joining Instacart enables us to scale our impact with the support of a trusted partner that shares our commitment to retailer success,” said Antonio dos Santos Nunes, CEO and co-founder of Instaleap.

The company was founded in Colombia in 2019 by Portuguese entrepreneurs Antonio dos Santos Nunes and Margarida Freitas, the company’s current COO. Both joined the global entrepreneurship network Endeavor in 2025.

The companies did not disclose whether Instaleap’s current management team will remain in place after the transition period.

E-commerce growth fuels regional expansion

The announcement comes amid sustained growth in e-commerce across Latin America, particularly in Colombia.

According to figures cited in the statements, Colombian e-commerce grew 19.9% in 2025, reaching $684.6 million USD transactions, while the regional online grocery market surpassed $3.62 billion USD last year.

Instacart reported adjusted EBITDA of $1.09 billion USD in 2025, representing 23% year-over-year growth, along with 312 million processed orders.

With the acquisition, the company expects to gradually extend additional solutions to Instaleap’s clients, including e-commerce services, retail media, artificial intelligence and in-store technology.