A group of Basque investors have closed an offer of more than 700 million to buy Uvesco
BM and Super Amara supermarket distribution group increased sales by 10.6% in 2024, breaking records.
A group of Basque investors have launched a proposal for the purchase of the Uvesco distribution group, the parent of the BM and Super Amara supermarket brands, which aims to ensure the roots of this sales operation in the Basque Country, have informed EFE sources close to the group.
The proposal, led by the current CEO of Uvesco, Angel Jareño, and several executives of the company, is expected to be transferred earlier this month to the French PAI Partners fund, which was made in April 2022 with the majority participation of the distribution group and yet maintained its headquarters in Irun (Gipuzkoa).
The Uvesco Group, the parent of the BM and Super Amara supermarkets, warned in May of the need to advance the negotiations of a private public alliance to give entry to a "entrenchment project" if the PAI decided to sell its share and other purchase options emerged, such as the one raised at the time by Carrefour, which eventually failed.
The chairman of the group, Jose Ramon Fernandez de Barrena, said that we should be prepared for the case in which PAI Partners decided to divest and sell their share in order to ensure the company's roots in the Basque Country.
The Uvesco Group achieved a record 10.6% growthin sales in 2024 (1,186 million euros) and closed the exercise with 7,142 workers and 336 supermarkets in Spain, mainly in the Basque Country, Navarra, La Rioja and Madrid.
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