Spain/Mexico: CNMC approves purchase of VIPS by ALSEA

Spain’s National Commission for Markets and Competition (CNMC) has authorized the purchase of restaurant operator Grupo Vips by Mexican behemoth Zena Alsea, which also runs the Domino’s pizza and Foster’s Hollywood brands across Spain.

The full opinion on the caseis not yet public, sources have confirmed, indicating that the document will be disclosed once the confidential data used in order to ensure compliance with the country’s competition regulation is eliminated.

The current shareholders at Vips – the Arango family and the ProA Capital fund – will retain their presence in the resulting food group with an 8% share and an investment of 75 million euros.
The merging of Zena and Vips will allow the former to manage over one thousand restaurants across Spain and Portugal, with sales approaching 800 million euros this year alone, thus becoming the “main operator of restaurants in the Iberian market.”

Full Content: Expansion

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