German wholesaler Metro AG, signed the purchase of the Portuguese group Aviludo, specialized in the wholesale sector for hotels and restaurants with a strong presence in Lisbon and the south of the country.
Both parties have agreed not to disclose the financial details of the transaction. The acquisition is subject to the approval of the relevant authorities and is expected to be completed in the first half of calendar year 2021. The company will remain broadly independent and keep its brand.
With this acquisition, the German multinational adds up to its portfolio in Portugal, where it already owns Makro. Olaf Koch, CEO of METRO AG, explains: “We are now expanding the range of services for our customers in the important Portuguese market".
A team from Morais Leitão, comprised of partners Catarina Brito Ferreira and Luís do Nascimento Ferreira, assisted Metro AG, while PRA-Raposo, Sá Miranda & Associados acted for Aviludo with a team led by partner Pedro Raposo.
METRO operates in 34 countries and employs more than 100,000 people worldwide. In financial year 2018/19, METRO generated sales of €27.1 billion.
Aviludo closed 2019 with a turnover of €152 million euros and more than 13,500 establishments and companies on its client list. It currently employs 850 employees.