Alsea buys 100% of Vips in Spain

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The Mexican company Alsea, operator of Franchises like Starbucks, Burger King and Domino's Pizza in Mexico and other countries, announced the purchase of 100% of Vips Group (Sigla S.A.) in Spain as part of a transaction valued at 500 million euros after indebtedness and involving more than a thousand restaurants.

Alsea completed the transaction via the company Restoration project, a company owned by the Mexican company and also the majority shareholder of Zena in Spain.

"At the same time, the current shareholders Grupo Vips, the Arango family and ProA Capital reinvest 75 million euros, via a capital increase, in Restoration project, becoming minority shareholders of the same with a stake of about 8%, "said Alsea.

With the old ones owners of minority partners, the new group will charge more than 800 million pesos in Spain and Portugal.

"Through this operation, the new group will have a portfolio of 10 brands in the Iberian market: Foster's Hollywood, Vips, Domino's Pizza, Starbucks, Ginos, Burger King, TGI Fridays , LAVACA, Cañas y Tapas and Wagamam "explained the company.

The group created will have more than 20,000 employees, including its own employees and franchised units, and with a EBITDA over 100 million euros.

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