By John Smith • 30 March 2021 • 13:14
Eroski franchise Palma
Credit: Eroski Corporate
ORIGINALLY set up in the Basque Country as a co-operative food distribution company, Eroski has been looking for significant investment since 2019 and has now struck a deal with a Czech billionaire.
Said to be worth in excess of €4 billion, Daniel Kretinsky has, through his EP Corporate Group purchased 50 per cent of Eroski subsidiary Supratuc 2000 which operates the Caprabo and Cecosa supermarkets as well as Eroski in the Balearics.
In announcing the deal, Eroski declined to confirm the value but is comfortable that it will allow the group to strengthen its financial position and continue to trade with Caprabo in Catalonia and Eroski in the Balearics.
It is understood that company has more than 100 stores in the Balearics as well as 70 plus franchise outlets and there are no planned closures or reduction in staff and customers will see little change on a day-to-day basis.
Thank you for taking the time to read this news article “Popular Eroski supermarkets in the Balearics have new investor”.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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