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The group thus created will have more than 20,000 employees
Grupo Vips finalized its sale to the Mexican group Zena Alsea, which operates brands such as Burger King, Foster's Hollywood or Cañas y Tapas for a fee 500 million euros after debt, according to the group. At the same time, the current shareholders of Grupo Vips, the Arango family and ProA Capital will reinvest 75 million euros, through a capital increase, in the project Food Service, a 100% subsidiary of the company. .
Alsea, owner of the majority of Grupo Zena in Spain since 2014, becomes a minority shareholder with a stake of about 8 percent.
The group created, the largest restaurant in the Iberian market, will invoice more than 800 million euros in Spain and Portugal and will manage more than 1,000 restaurants.
Through this operation, the new group will have a portfolio of 10 commercial brands: Hollywood Fosters, Vips, Domino's Pizza, Starbucks, Ginos, Burger King, Vendredi, Lavaca, Cañas y Tapas and Wagamama
The group created will have more than 20,000 employees, including its own employees and franchisees. and with a gross operating result (Ebitda) of more than 100 million euros.
The transaction, which will be communicated to the competition authorities, will await the approval of the National Competition Commission (CNMC) and will be closed as soon as the said organization has given its agreement.
ING, Garrigues and Cuatrecasas acted as financial advisors and attorneys for the buyer, while Linklaters acted as the seller's legal advisor. And, on the other hand, he has done due diligence.
The Arango family founded the Vips brand in Spain in 1969, laying the foundation for Sigla, the current Grupo Vips. The brand experienced rapid growth in the country, becoming the company's flagship product, as it expanded and diversified its portfolio, with the integration of new brands of hotels and brands in the country. detail.
Currently, Grupo Vips is one of the leading Spanish restaurant groups, operates more than 450 establishments, five brands (Vips – in two formats: Vips Cafés and Vips Smart), Ginos, Starbucks, Fridays and Wagamama) and has closed the year 2017 with 415 million euros of turnover.
The president of Grupo Vips, Plácido Arango García-Urtiaga, stressed that it was an operation that had "all its meaning" for both parties and that the synergies that in would result would lead to the major catering group in Spain and Portugal. "Grupo Vips is stronger than ever and the integration of our activity with that of Alsea-Zena will allow us to make the jump that we have prepared," he added.
For his part, the chairman of the board of directors of Alsea, Alberto Torrado, underlined that, thanks to this agreement, the company is able to consolidate its strategy of growth in Alsea Europe, in adding important brands to its markets and strengthening its geographic presence on the continent.
"This tremendous opportunity reinforces the announcement we made regarding the negotiations for the acquisition of the Starbucks transaction in France and Benelux, with which we will expand our presence in Spain, France, Portugal, Belgium, the Netherlands, Luxembourg and Andorra, "he said. For this, we are pursuing our long-term project in the region, with significant potential for expansion and the operational and administrative synergies that we are creating. The uros will generate value to Alsea. It is a great satisfaction for us to give this impetus to our growth by integrating a group with the trajectory of quality and success that has known Grupo Vips, "he added.
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