Companhia Brasileira de Distribuição (“Companhia” or “CBD”), Brazil‘s largest retail and distribution group, hereby announces to its shareholders and the market that it has entered into a strategic alliance with Cheftime, a pioneering Foodtech startup founded in 2015, that offers an online subscription service and sells individual gastronomic kits.The agreement gives CBD the right to acquire a controlling interest in Cheftime within 18 months, which can be extended to up to 24 months. In that case, Cheftime will continue to be managed by its founder, Daniella Mello, who will continue to lead the company alongside CBD.Additionally, as of today, an exclusive line of gastronomic kits (“Cheftime by Pão de Açúcar”) starts to be marketed, as result of a co-creation work developed in the last three months. As a pilot project, the products are available at the Pão de Açúcar store located on Teodoro Sampaio street, in the city of São Paulo, and at (initially available only at the zip codes (CEP) in the region covered by this unit).

The strategic alliance with Cheftime will enable CBD to: i) broaden the character of innovation and differentiate its brands; ii) consolidate the omnichannel experience of consumers in line with the Company‘s digital transformation project; and iii) build closer relations with talents in the Foodtech segment.

“This partnership places us at the vanguard of the retail sector in Brazil, aligned with a strong global food retail movement in offering a complete food solution” said Peter Estermann, the CEO. “As of today, we have broadened the reach of our customers omnichannel experience, in physical store and e-commerce, with a value proposition in line with our digital transformation strategy, offering our clients practicality and convenience, through a pleasant and simple cooking experience,” Estermann added.

“The partnership with CBD is a tremendous opportunity to increase the visibility and availability of the Cheftime brand,” stated Daniella Mello, CEO and founder of Cheftime, who added that the agreement underscores the significance of the business model and the quality of the product. “CBD‘s assets will give us the leverage to offer our clients the omnichannel experience and increasingly integrated services,” Mello concluded.

Rollout to other Pão de Açúcar and Minuto Pão de Açúcar stores is scheduled for the 1st quarter of 2019. All exclusive recipes of “Cheftime by Pão de Açúcar” will also include at least one ingredient of CBD‘s private-label brands: Qualitá, Taeq and Casino.

All Cheftime gastronomic kits are produced using fresh, clean ingredients at the right quantity for people to prepare tasty, healthy and practical dishes. The recipes are signed off by professional chefs with step-by-step preparation instructions for the client. More information available at

São Paulo, November 13, 2018.

Daniela Sabbag
Investor Relations Officer