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Uvesco Executives, Basque Investors Prepare €700 Million-Plus Bid to Buy the Grocer From PAI

A management-led, locally financed offer is being readied to keep the Irún-based group rooted in Euskadi.

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Overview

  • A consortium led by CEO Ángel Jareño with five Uvesco executives is preparing a management buyout.
  • The offer, reported at more than €700 million, would be presented to majority owner PAI Partners.
  • Basque backers cited include Indar (Kutxabank), Stellum, Inveready, and Geroa via Orza.
  • PAI currently holds about 70% of Grupo Uvesco, operator of the BM and Súper Amara supermarket chains.
  • The plan seeks to anchor the company in the Basque Country and safeguard over 7,100 jobs, according to El Diario Vasco, which says the process remains developing.