29 January 2025
BBVA advises Nudisco on the sale of 73 supermarkets in the Valencia Region
In a complex three-party deal involving Consum, Fragadis (SPAR), and Transgourmet (COOP Group), BBVA CIB successfully advised on a transaction valued at nearly €86 million, executed in record time, further strengthening its leadership position in the food retail sector.
BBVA exclusively advised Nudisco shareholders on the sale of all their supermarkets—73 stores located across the Valencia region—to three buyers: Consum, Fragadis (SPAR), and Transgourmet (COOP Group). The total value of the transaction amounts to approximately €86 million.
In this joint transaction with three entities, BBVA CIB reinforced its leadership in the food distribution sector by structuring a deal tailored to the client’s specific needs. The process delivered maximum value and addressed a complex situation, enabling the transaction to close in less than six months.
Santiago Rodríguez Palacios, Managing Director responsible for Consumer and Retail Advisory at BBVA, stated, “This operation presented an unprecedented challenge in the food distribution sector. At BBVA, we’ve demonstrated our ability to manage complexity and deliver results in record time.”
BBVA: A Leading Advisor in the Consumer and Retail Sector
With a strong track record in mergers and acquisitions within the consumer and retail sector, BBVA has been involved in several of the industry’s most significant transactions, including the sale of 230 Grupo Dia supermarkets to Alcampo and the sale of Condis Supermercados’ business in Madrid to BM Supermercados (Uvesco) and La Despensa.
BBVA has completed 28 transactions in the consumer and retail sector in Spain over the past 12 years and has advised on a total of 161 mergers and acquisitions in the country since 2009.
A complex deal executed in record time
Nudisco operates its 73 supermarkets under two distinct brands: Economy Cash (52 stores) and Kuups (21 stores). Economy Cash focuses on medium-to-large supermarkets (approximately 700–2,000 m² of sales floor) offering a wide range of fresh products in assisted sections, along with branded goods at competitive prices.
Kuups, on the other hand, specializes in convenience stores with small formats (150–520 m² of sales floor), offering a variety of essential products and extended operating hours, including Sundays and public holidays.
The entire portfolio was acquired by Consum (9 Economy Cash stores), Fragadis (31 Economy Cash stores, including the brand), and Transgourmet (a 50% stake in 12 Economy Cash stores and 21 Kuups stores). For Transgourmet and Nudisco, a new joint venture was established to manage the portfolio collaboratively and leverage synergies.
During the period between signing and closing the transaction, Nudisco faced the adverse effects of the DANA storm, which severely impacted four stores included in the deal. According to Rodríguez Palacios, “Thanks to the company’s swift and agile response, the stores were delivered in perfect condition. The success of this transaction, even with complications arising from the DANA storm, is yet another example of our ability to successfully manage highly complex deals.”