Carrefour is considering acquiring the leading Canary chain Hiperdino for 1.1 billion.

The brothers José Abraham and Andrés Domínguez Santana do not rule out getting rid of the leading distribution chain in the Canary Islands, Dinosol, which operates the Hiperdino brand. Both brothers control 60% of this giant led by Javier Puga, who owns another 30%.

The businessmen have approached the investment bank Arcano to dispose of this chain that has more than 250 establishments, exceeds 25% of the market share in the archipelago, bills more than 1.4 billion euros annually, and wants to break into the Balearic and Moroccan markets.

Industry sources indicate to Elcierredigital that Carrefour might have been interested in Hiperdino, but the price of 1.1 billion euros could deter them.

Sale possibilities

The CEO of Hiperdino, Javier Puga, has explained to Canarias 7 that they do not want to sell. "But I can't swear that we won't do it because it all depends on there being a good price," he assures. "We've known Arcano for many years but we have nothing formalized with them," they explain.

Puga admits that last year he negotiated the sale of the company. "They offered us 900 million and we told them that if it was 1.1 billion, we would sell it. They didn't give it, and we didn't sell it," he says. "I'm in love with this job and this chain. I would love to stay here another 20 or 30 years because I like it a lot and I'm happy, but if a good amount is offered, we would consider it. We have to be cold," he adds.

It should be remembered that the Domínguez Santana brothers already got rid of Hiperdino in 1996. Almost 3 decades ago, they sold it to the investment fund Vista Capital. After passing through several hands, the brothers repurchased the business in 2012.

Now Hiperdino could end up in the hands of Carrefour, which is in the middle of a sales process in Italy and Poland.

The queen chain of the Canary Islands

Hiperdino is one of the most important supermarket chains in the Canary Islands, with a strong presence throughout the archipelago. This company, founded in 1978, has managed to establish itself as a leader in the food distribution sector in the islands. It has done so thanks to a strategy based on proximity to the customer, the commitment to local products.

The brand belongs to the DinoSol Group, a 100% Canarian company that also operates other brands such as SuperDino and DinoShop. The group employs thousands of people on the islands, becoming one of the main economic engines and job generators in the region. Additionally, Hiperdino is firmly committed to local products, working closely with Canarian farmers, ranchers, and suppliers. This fosters the island economy.

One of Hiperdino's differentiating factors is its ability to adapt to the Canarian customer. The company knows well the needs and tastes of the local consumer. Additionally, they have been pioneers in launching services such as online shopping with home delivery or in-store pickup.

In terms of expansion, Hiperdino has more than 230 establishments distributed across all the islands, ranging from large supermarkets to convenience stores, allowing them to reach both urban and rural areas. This capillarity gives them a great competitive advantage over other national or international chains operating in the archipelago.

Another open option: Uvesco

Carrefour will consolidate its second place in Spain and narrow the gap with Mercadona if it closes the purchase of Uvesco, owner of brands like BM or Super Amara. The operation would be around 800 million euros, but it seems to have cooled in recent months.

The French investment fund PAI, which has controlled Uvesco since the end of 2021, would be interested in divesting from Uvesco, which was founded in 1993 after the merger between the Cantabrian VES and the Basque Unialco.

Auchan (Alcampo) and Soane (Continente) would also be interested in acquiring Uvesco, which is the second distributor in Euskadi, only behind the all-powerful Eroski. And it also has strength in Navarra, the Community of Madrid, Cantabria, or La Rioja.

Uvesco has nearly 300 establishments, bills around 1 billion euros, and is in the hands of PAI, which also owns Angulas Aguinaga or La Gula del Norte.

Open possibilities after losing more than half of its valuation

Carrefour slightly increased its billing in 2024 to 94.55 billion euros, compared to 94.132 in 2023. But its profits fell by 11% to 1.081 billion. In Spain, sales fell by 0.8% to 11.728 billion. The company assures that the drop is due to the "negative impact of investment in prices. Financial services. And the integration of Supercor."

Carrefour's market valuation has plummeted in just over 2 years from 17 billion to 8.3 billion. In 2021, the Canadian company Couche-Tard wanted to buy the company, valuing it at 16.145 billion euros. But the French Government vetoed the sale.

In Spain, the business is falling at a faster rate than the drop in the market share of large surfaces. According to Kantar Media, in 2024, the share of the largest establishments fell from 14.6% to 14.2%. And supermarkets grew by more than 1 point to 63.5%. According to the consultancy, Carrefour's market share has dropped from 10% to 9.4%.

To combat the dynamic, all possibilities are open, including the sale of the business in Spain. In France, the decision of the main shareholder, the Moulin family, to sell part of their shareholding package is much discussed. This fact could invite the company to undertake changes.