Grupo Pao de Acucar

Kellogg School of Management Cases

ISSN: 2474-6568

Publication date: 20 January 2017


After analyzing and discussing the case, students should be able to:

  • Determine when it is efficient or value-increasing for one nonfinancial firm to borrow from another nonfinancial firm through trade credit, as opposed to borrowing from financial institutions (e.g., banks) or financial markets

  • Understand how competition or relative bargaining power can influence feasible and optimal trade credit terms

  • Explain why trade credit can be a cheaper form of financing than the alternative forms of financing available to small family businesses like Oalem Ltda



Petersen, M., Williamson, A. and Chopra, R. (2017), "Grupo Pao de Acucar", Kellogg School of Management Cases.

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