Sunday, May 22

El Corte Inglés buys the Sánchez Romero supermarket chain

El Corte Inglés has closed the purchase of the Madrid supermarket chain Sánchez Romero, the company reported in a statement. The amount of the transaction has not been disclosed.

El Corte Inglés loses 2,945 million in the year of the pandemic

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Sánchez Romero is a high-end chain, in the “premium and gourmet” segment according to its own definition. It is the most expensive local supermarket in Spain, according to the OCU report. It has ten supermarkets in Madrid with a surface area of ​​more than 9,000 square meters. In addition, it has a 4,000-square-meter distribution platform installed in Alcalá de Henares (Madrid), where the company’s offices and headquarters are also located.

With this operation, the department store chain has indicated, “El Corte Inglés consolidates its position as a leader in quality supermarkets, with a broad, differentiated commercial proposal capable of incorporating the best products and the latest innovations on the market.”

As reported ExpansionCarrefour was also bidding for the chain.

Sanchez Romero was founded in 1954, has 419 employees and closed 2020 with a turnover of 61 million euros and a profit before tax of 6.2 million. Enric Ezquerra, current manager of the company, will continue to be linked to it.

El Corte Inglés has counted as advisers with Deloitte and Santander Investment Banking, while Sanchez Romero has been advised by Alantra.

The company of large shopping centers announced on Wednesday that its subsidiary Viajes El Corte Inglés was merging with Logitravel.