Alcoya businessman Miguel Ángel Alcaraz has sold three-quarters of his supermarket network, with the Catalan family business being the main beneficiary. Economy Cash sold about 30 of its 51 properties in Valencia, Alicante, Castellon, Murcia and Albacete to Fragadis, and a further 12 to Consum. In the first case, the plan of the company based in La Canonja (Tarragona) and operating under the Spar and Eurospar brands is to keep the brand name for now, but the Valencian cooperative has already changed the brand name. It has been announced that it will be maintained. From 2025, these nine stores will be reformed to operate with a consummated image.
The operations are subject to an undisclosed amount of money, but both are subject to a green light from the National Market and Competition Commission (CNMC), likely to take place in the new year.
Once the move is complete, Fragadis will increase its store network to 218 stores, expand its store area to 280,000 square meters (of which almost half is represented by 30 Economy Cash stores), and operate with 2,900 staff. It will be. The package of facilities they purchased from Kuups Design International includes bringing 700 employees into the network and setting up their first foot in Murcia and Albacete.
“This operation is an important milestone in our expansion strategy, strengthening our position across the Spanish Levant beyond the summer season and completing the connection of the Mediterranean Arc between the southern part of the province of Barcelona and the region of Murcia. ”The company is owned by the Fraga family, who are also the operators of the Dutch company Spar in Barcelona, Tarragona, Lleida, the Community of Valencia and Aragon. “Furthermore, it is an important business challenge to grow and develop to become more competitive in the food sector market,” he asserts.
Not only that, the chain, which had sales of 376 million euros in 2023, will see a 30% increase in revenue in 2024, on top of the natural increase in sales so far, due to the growth of these 30 new supermarkets. Completely related to acquisitions.
Consumption growth and the future of economy cash
On the consumer side, this operation will also have some impact on Catalonia. One of the acquired facilities was located in the town of Amposta (Tarragona), and the cooperative now directed by Antonio Rodríguez did not exist there. With the exception of one store in Caravaca de la Cruz (Murcia), the remaining stores are located in the Valencian community.
“The idea is that we assume [la gestión de] “We will offer our customers a January store with the image of Consum, always ensuring that our customers will find a unique shopping experience in our stores,” Rodriguez said at the 39th AECOC Great Consumer Conference. Ta. In this case, it means absorbing movement. Approximately 200 workers.
Consumer is truly committed to a significant growth plan, which includes opening 35 new facilities between its own stores and Charter-branded stores (the majority, in fact). All this expansion with the absorption of 9 Economy Cash stores brings the total network to 970 supermarkets spread across the Valencian Community, Catalonia, Murcia, Castilla-La Mancha, Andalusia and Aragon. However, the aim is to continue to expand. next year.
As for the 12 economy cash stores remaining in the package, these were also sold, industry sources told EL PERIÓ DICO. Quaps Design International, one of the companies owned by Miguel Ángel Alcaraz, is to sell its entire Economy Cash network, along with Nudisco, an importer and packager of preserved foods. Ta. It’s unclear whether or who there is a buyer.
