druni and sandbank They will become the same company. The company MC SonaeArenal’s main shareholder, has reached an agreement with the founding families of both brands to combine their business into a corporate group that will operate under the name of druni and that it will add 470 stores and a turnover of approximately 800 million euros, they have reported in a statement.
Specifically, according to a statement, MC Sonae contributes to this agreement its current stake in Arenal, 60% owned by the Portuguese firm and 40% by its founding shareholders, the Vázquez family, as well as a “important” additional investment, creating a ‘joint venture’ with Druni’s founding shareholders, the Casp family. Druni will be 50% owned by a holding company controlled by MC Sonaein which the founding shareholders of Arenal will have a minority stake, and 50% of the Casp family, maintaining the Group’s corporate headquarters in Carlet (Valencia).
In this way, this alliance enhances the joint assets and competencies of MC Sonae, Druni and Arenal. In particular, they have pointed out, the combination of the Druni and Arenal businesses, where the two banners will be maintained, will accelerate the growth plan of these companies in the physical and online channels. The CEO of the new group will be Bernardo Caspa, who will lead the project together with his brother José Casp. Rafael Marzán Vázquez, a member of the founding family of Arenal, will also be in charge.
“This operation translates into the creation of a reference operator in the Iberian Peninsula, in a segment with high growth potential. By joining forces, new opportunities open up and we ensure an even brighter future for MC Sonae, Druni and Arenal.”, they have stressed from the companies.
The closing of the operation is subject to the approvals of the competition authorities and expected to materialize during the second half of 2023.