Supersol sells Cashdiplo to directors of the company itself to refloat it

The company registered sales in 2019 of 149 million euros and that it operates with 23 Cash & Carry centers.

The supermarket company Supersol has announced the sale of its Cashdiplo business in an operation that will be consolidated in early 2021. The current sole supermarkets partner Supersol sells, “Considering that it is the best alternative for the future”, all of the shares in Cashdiplo’s capital stock to a company owned by Supersol and Cashdiplo executives.

This company “has extensive experience in the sector and in the company and they have designed a business plan aimed at making Cashdiplo’s operations grow in the face of current challenges.” At the moment the amount for which the transaction has been closed is unknown.

True to the commitment that Supersol’s sole partner has always shown with all the investments in which it has participated, “it will take charge of the necessary investments for the separation and organization of the services that until now were provided to Cashdiplo by Supersol”, he explains the company.

Likewise, it will provide a long-term line of credit to ensure the continuity of the teaching. The operation is estimated to be completed in February 2021.

Currently, Supersol Spain is the sole partner of Cashdiplo, a company that registered sales in 2019 of 149 million euros and that operates with 23 centers Cash&Carry located in the Canary Islands, Peninsula, Ceuta and Melilla. The company has about 300 employees and operates with more than 700 national and regional suppliers to supply quality products to its customers, most of which belong to the Horeca and food retail sectors. Cashdiplo operates under the Cashdiplo and Cashdiplo family brands.

Carrefour

This operation comes after Carrefour reached an agreement in August to acquire the business of the supermarket chain Supersol, owned by the Lithuanian retail group Maxima, in an operation that will be consolidated in early 2021.

Specifically, the operation covers the purchase of 172 supermarkets of the chain in the national market, located mainly in Andalusia and the Community of Madrid.

Carrefour has specified that the company value of this transaction is 78 million euros and that the stores acquired registered net sales close to 450 million euros in 2019.