The Family Cash food distribution company has obtained the necessary financial support to continue with its growth plan and open 20 new supermarkets and a central logistics center.
In total, the Valencian firm, owned by the Canet Ferrero family, has obtained a total of 155 million euros in financing from a group of eight financial entities led by Banco Santander and which include institutions such as Caixabank, the Official Credit Institute ( ICO), Deutsche Bank, Banco Sabadell, BBVA, Targobank and Arquia Bank.
In this way, the supermarket chain is facing a national expansion plan with solvency that it will carry out over the next two years thanks to an operation that has been rated ‘sustainable’ thanks to its commitment to the 2030 Agenda through compliance with a series of objectives
The operation has received exclusive financial advice from PwC’s Debt Advisory team, together with Broseta and PwC Tax & Legal, who have participated as legal advisors to financial institutions and Family Cash, respectively.
The hybrid hypermarket chain based in the town of L’Olleria (Valencia) was founded in 2013 by the Canet Ferrero family and currently has 36 stores and employs more than 3,200 people.
Last year its turnover exceeded 400 million euros, reinforcing its consolidation in recent years as one of the fastest growing companies in the food distribution sector thanks to a business strategy focused on family savings. This is based on a low price policy that is maintained throughout the year without offers.
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