Carrefour Eyes Acquisition Of Uvesco In Spain

By: Trademagazin editor Date: 2024. 07. 05. 09:00

Carrefour is exploring the acquisition of Spanish food distributor Uvesco Group from PAI Partners, according to media reports.

PAI Partners owns a majority stake in Uvesco, which operates the BM Supermercados and Super Amara chains in Spain.

The deal’s projected value would range between €700 and €800 million. It will help Carrefour consolidate its market share in Spain, particularly in the north.

Other companies have also expressed interest in Uvesco Group, the report said.

Auchan Retail, which operates the Alcampo chain in Spain, and Continente parent Sonae are also eyeing Uvesco.

Carrefour is collaborating with PwC for this acquisition. In 2023, PwC acted as an advisor for the company for the purchase of 47 Supercor stores from El Corte Inglés.

Currently, Carrefour has a market share of 10% in Spain, second to Mercadona, according to the report, the report noted.

Uvesco Group

Uvesco reported an 8.8% increase in sales to €1.1 billion in its financial year 2023, which it described as ‘complex’ and marked by rising inflation and changes in consumer habits.

The BM Supermercados and Super Amara banners closed the year with 294 supermarkets in the Basque Country, Cantabria, Navarra, La Rioja, Madrid, and Ávila.

Its e-commerce platform reported an 18% increase in sales and 9% growth in customers.

In May of this year, Uvesco completed the conversion of 31 Super Hiber stores to the BM Supermercados banner. With the opening of these stores, the chain consolidated its position in Madrid, where it already has 81 stores.

ESM