Daniel Kretinsky joins Spanish supermarket chain

Eroski

Czech billionaire Daniel Kretinsky, famous for his ventures into Metro, Casino and Sainsbury's, has acquired a 50 % stake in Supratuc 2020, which includes Eroski operations in Catalonia and the Balearic Islands.

 

Strengthening financial structure

The Spanish retailer had been looking for a partner to strengthen its financial foundations since late 2019. The deal with Kretinksy should enable the company to accelerate debt reduction and facilitate new investments at the Caprabo chain in Catalonia and Eroski in the Balearic Islands. 

 

Kretinsky is one of the most important investors in the European food retail industry, together with his Slovak partner Patrik Tkac. The businessman previously tried to take over Metro and also has stakes in Casino and Sainsbury's. 

 

Like Belgian Colruyt, Eroski is a member of AgeCore, the retail alliance currently on the brink of collapse.