French supermarket giant Carrefour, already number one in Brazil, said on Wednesday it was acquiring Grupo Big for €1.1 billion.

Grupo Big is the number three supermarket chain in Brazil.

Carrefour, which itself was recently in failed tie-up talks with Canada’s Couche-Tard, said it acquired Brazil’s Grupo Big from Advent International, a US investment house, and US retail giant Walmart.

Our company is on the offensive- Carrefour CEO Alexandre Bompard

“Our company is on the offensive, and the acquisition of Grupo Big is a major transformative moment for Carrefour Brazil,” Alexandre Bompard, CEO of the French company, said in a statement.

The deal, the biggest since Bompard took the helm in 2017, is in keeping with the company’s strategy of pushing external growth by strengthening its position in key markets, he said.