Mexican restaurant operator Alsea has announced that it has completed its purchase of Spain's Grupo Vips for approximately €575 million.
The combined sales at Alsea's Europe division will represent more than 35% of Alsea's total sales, the company said in a statement.
Grupo Vips Portfolio
In the third quarter of 2018, Grupo Vips was comprised of 349 corporate restaurants and 90 franchises in Spain, Portugal and Andorra, Alsea said. Its eateries span six eatery brands, including franchises of coffee chain Starbucks.