Metro AG has announced the takeover of foodservice distribution company Davigel Spain, for an undisclosed fee.
The wholesaler said that the acquisition of the business, from US operator Sysco, will enable it to 'strengthen its strategic profile in the Spanish wholesale market'.
Founded in 1988, Davigel Spain supplies more than 4,000 customers in Spain, mainly on the Balearic and Canary Islands, with chain hotels accounting for 70% of its customers.
The company also holds exclusive rights in Spain to certain products from Sysco France’s product assortment, which predominantly consists of elaborate or ready-to-eat frozen products.
Commenting on the deal, which was closed on 30 December, outgoing Metro AG chief executive Olaf Koch said, “Davigel Spain is an ideal complement for our existing Spanish operations in terms of assortment mix, customer groups and business model.
"The acquisition will help us to strengthen our product proposition as well as to gain access to chained customer groups especially on the Canary and Balearic Islands. As such, we expect to generate synergies mainly in purchasing and assortment via the contracted supply agreement."
Following the acquisition of Aviludo in Portugal last October, Davigel Spain was Metro's second acquisition of 2020.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.