A group of Basque investors have bought Uvesco for 700 million euros
The distribution group consists of BM Supermarkets and Super Amara, with a total of 7 000 employees in Uvesco, mostly in the Basque Country.
The Uvesco Distribution Group has been acquired by agroup of Basque Autonomous Community i Nbertadores for 700 million euros, so that the group, which had been in the hands of a French group since 2022, will return to the Basque Country.
The purchasing group, composed of the companies that founded Angel Jareño, the Force Portfolio, the Venus Foundation, Inveready and Uvesco, has thus put an end to the threat of foreign purchase.
Indeed, the French PAI Partners fund, which has hitherto owned the distribution group, received offers from Carrefour (French) and DIA (Russian) in 2023.
The Irundarra company, consisting of BM Supermarket and Super Amara , has 7 000 employees , mostly in the Basque Country, with a turnover of almost 1 200 million euros by 2024.
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