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Condis is a grocery chain in the Catalonia region and is the leading proximity chain in the province of Barcelona

Type of Operation

Preferred equity and common equity

Fund

Structured Partnerships Fund I

Investment date

November 2022

Activity

Regional proximity grocery chain

Founded in 1961 and based in Montcada I Reixac (Barcelona), Condis has a multi-format and multi-channel strategy. The company physically distributes through more than 160 own stores and 450 franchises and complements its offering with an online sales channel (CondisLine). Condis benefits from the current trends in grocery retail including a growing demand for proximity and convenience as well as an increasing ecommerce penetration and need for capillarity.

Why did we invest in Condis?

> Leading company with structural tailwinds related to proximity

> Resilient, countercyclical business with strong cash generation

> Significant opportunities to create value through physical expansion, operational efficiencies, and digital commerce

> Company is highly committed to ESG initiatives

> Highly informed, motivated, and aligned management team