The consortium of private investors, led by Uvesco CEO Ángel Jareño, signed a private agreement this month with the PAI Partners fund to acquire 100% of the company, owner of BM Supermercados and Super Amara.
The final conclusion of the operation is planned for the first quarter of 2026, once the precise administrative procedures of these processes have been completed, as indicated by the company in a press release.
The PAI Partners fund joined Uvesco in December 2021 by acquiring more than 70% of its capital. Uvesco reported that, thanks to its “agreed result” with the consortium led by the current CEO, Ángel Jareño, together with other directors, the Group recovers local properties.
Among the investors who will form the consortium behind the acquisition of PAI Partners are, alongside Ángel Jareño, the founding families, Stellum Capital, Inveready and Indar Kartera, the financial vehicle of Kutxabank.
This agreement represents a “clear commitment to the foundation, the continuity of Uvesco’s economic model and its sustainable growth to a large extent”, while consolidating, as the company highlighted, a business project “faithful to its founding values”.
An operation that took place after the failure of the sale of the Uvesco group to Carrefour in December 2024, which was greeted that day with relief by the Basque Government, which had confidence in the implementation of the initiative for these inverters.
Ocean Capital and Evercore participated as general advisors to the purchasing consortium, alongside Clifford Chance and EY in the legal department.
Currently, Uvesco has 344 establishments and a workforce of more than 7,000 people. Operates in the Community of Madrid, Ávila, Guadalajara, Basque Country, Navarra, Cantabria and La Rioja. Its strategy aims to increase its number of supermarkets, its geographic expansion and its expansion in quality, “at the same time strengthening its social commitment and sustainability”.
In May this year, the expansion and development plan of the BM model was announced, which included the launch of 25 new projects. In 2024, the Uvesco group achieved record growth of 10.6%, with a turnover of 1,186 million euros
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