The transaction, if approved by the FNE, will be a new strategic step by Grupo Falabella to focus its value proposition and simplify its business.
Grupo Falabella and Copec announced today the signing of a Framework Agreement for the sale of Falabella Retail’s 65% stake in Promotora Chilena de Café Colombia S.A., which develops the Juan Valdez franchise in Chile.
This transaction is part of Grupo Falabella’s strategy to enhance the growth of its five main businesses and to advance in the efficiency and simplification of its operations.
“This agreement represents a new strategic step in the consolidation and simplification of our ecosystem, allowing us to focus on what we do best: delivering an innovative and quality omnichannel experience to our more than 36 million customers,” said Benoit De Grave, Strategy and Transformation Manager of Grupo Falabella.
For his part, Francisco Irarrázaval, General Manager of Falabella Retail, added that “this decision reinforces our commitment to offer a specialized omnichannel experience in apparel, beauty, footwear, technology and home, ensuring that the latest trends reach the market before anyone else”.
The closing of the transaction, which involves the total transfer of Grupo Falabella’s interest in the Juan Valdez operation in Chile, is subject to the fulfillment of certain conditions that are customary for this type of transaction and the approval of the National Economic Prosecutor’s Office (FNE*).
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