Privately owned Spanish grocer Grupo Eroski has bought a controlling stake in Spanish retailer Caprabo.
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Eroski has bought a 75% stake in Caprabo, which has been the subject of takeover talk in recent weeks, for an undisclosed sum.
The remaining shares in the retailer, which runs 500 stores across Spain, will remain with current investors.
Eroski said the deal, which would create a group that generates around EUR8.6bn (US$11.6bn) in annual sales, would strengthen its presence in Catalonia and Madrid.
Eroski said it would maintain Caprabo’s base in Catalonia. A spokesperson for Eroski declined to comment further when contacted by just-food today (6 June).
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By GlobalDataRetail giants including France’s Carrefour, alongside fellow French retailer Auchan and Spain’s El Arbol, were linked to the race to buy Caprabo.
