El Corte Inglés buys the Sanchez Romero supermarket chain

Brits can now shop and fly at a discount in the Balearics. image: Pixabay

EL CORTE INGLÉS  buys the Sanchez Romero supermarket chain. The purchase of the Madrid supermarket chain is El Corte Inglés’ aim of becoming the leader in the ‘premium’ food segment.

Sanchez Romero was founded in 1954 as a small specialized supermarket until it was able to expand and add a dozen supermarkets in Madrid that reach more than 9,000 square meters of surface. The chain is characterized by its ‘gourmet’ and high-end products, as well as the good quality of its fresh products.

As reported by La Opinion de Malaga, the company, which has 419 employees, closed the 2020 financial year with a turnover of €61 million. Enric Ezquerra, the current manager of the supermarket company, will continue to be linked to the business. It also has a 4,000-square-meter distribution platform installed in Alcala de Henares, Madrid, where the company’s offices and headquarters are also located.

With this operation, the El Corte Inglés department store chain intends to consolidate its position as “a leader in quality supermarkets, with a broad, differentiated commercial proposal capable of incorporating the best products and the latest market innovations”. The chain chaired by Marta Álvarez was forced to close all its centres, except for the food section, during confinement due to activity restrictions.

El Corte Inglés has counted Deloitte and Santander Investment Banking as their advisers during the buying process while Sanchez Romero has been advised by Alantra.

FacebookTwitterRedditWhatsAppTelegramLinkedInEmailCopy Link
Go Back
Written by

Diane Burke

Diane is from Limerick, Ireland and has previously lived in Seville. Having graduated with a Masters in Journalism and Public Relations she has a keen interest in digital media. As well as her passion for news, she enjoys learning about human psychology, practising pilates and has a soft spot for tapas!

Comments


    Leave a comment

    Your email address will not be published.