Assaí Atacadista operates Brazil's largest pure cash and carry retail chain under the Assaí banner, running 302 large-format warehouse stores across 24 Brazilian states and the Federal District. The stores sell food, grocery, perishable, beverage, and household goods in bulk, carrying over 9,000 SKUs, with services like butcher counters, bakeries, and deli sections increasingly available across the network. Assaí's customer base is split roughly 60% B2C (primarily middle and lower-income households) and 40% B2B (restaurants, grocery stores, schools, hotels, and other small businesses). The business model is a retail margin business: Assaí earns gross profit on the spread between supplier costs and customer prices, targeting a gross margin around 15–16%, while keeping operating expenses lean. Revenue scales with store count and same-store sales growth. Assaí also holds an indirect minority stake in FIC, a financial services joint venture with Itaú Unibanco that issues the co-branded Cartão Passaí credit card and other financial products in Assaí stores, serving as a loyalty tool and generating dividends. Assaí grew aggressively in recent years through organic openings and the conversion of 66 former Extra Hiper hypermarket locations, but has since shifted to a deleveraging phase, targeting roughly 10 new store openings in 2025. Incremental growth initiatives include rolling out in-store services to more locations, expanding last-mile delivery partnerships, and developing B2B-focused financial products.