Condis secures 305 million euros for expansion and liquidity

The Catalan distribution chain Condis has announced it will use 305 million euros obtained through a refinancing operation closed last August to reinforce recently acquired stores. The funds will be used to strengthen stores acquired from the Diges group in Menorca and to consolidate its presence in Supermercats Roges in the Manresa area, where the company holds a 66% stake.

General Manager Manel Romero denied recent reports suggesting that the company might be for sale following interest from the French retailer Carrefour. Romero stated that the refinancing provides the stability necessary to execute growth plans established with majority shareholder Portobello without requiring changes to the company's capital structure. Condis currently operates more than 740 stores across Catalonia.