Arango Sells VIPS Channel to Zena Group | Businesses

The VIPS group, controlled by Mexican mogul Plácido Arango, has finalized its sale to the holding company Zena-Alsea, a Mexican restaurant operator that already operates under the brands Cañas and Tapas, Domino's or Foster's & # 39; 39; s. With this operation, Zena will also control the restaurant chains VIPS, Ginos, Starbucks (in Spain and Portugal) and Wagamama, according to sources close to the operation. The purchase was advanced by the newspaper El Confidencial and, above, by the transfer of 400 restaurants operated duty-free.

The transaction will also give access to the Zena Holding to current shareholders of VIPS, Arango and the founders of VIPS, with 70%, and to the venture capital fund ProA Capital, which bought in 2014 30% of the chain catering to Goldman Sachs. Thus, a large holding company is created on the catering market in Spain, with nearly 1,000 restaurants and competing with Amrest.

Zena-Alsea, which operates 550 restaurants, is controlled 70% by Alsea, a Mexican food company, and 30% by Alia venture capital fund, whose participation will be diluted by the entry of current shareholders of VIPS. . These will have about 15% of the capital.

Zena was owned by CVC until 2014, when the group was sold to Alsea and Alia Capital Partners for 270 million euros. The company runs Foster's franchises in Hollywood or Cañas y Tapas, as well as franchised restaurants of international groups such as Domino's Pizza or Burger King. Alsea, meanwhile, is the largest restaurant operator in Latin America, with nearly 3,500 stores. Yesterday, he lost 4.6% yesterday on the Mexico Stock Exchange, its largest decline in a year. Alia, a minority partner of Zena-Alsea, is an independent venture capital company created in Spain in 2007 by Inveralia's management.

The operation arrives shortly before the landing on the Spanish stock exchange of Amrest, also controlled by a Mexican (Carlos Fernandez) and his rival on a market, that of the restaurant, very moved lately. Amrest controls the Tagliatella brand and administers the Kentucky Fried Chicken (KFC), Pizza Hut, Burger King and Starbucks franchises in several countries. It has 296 restaurants in Spain.