Hayfin has led, as sole lender, the debt financing to support a new financing arrangement for Condis Supermercats (“Condis”), the leading proximity supermarket group in Catalonia. The funding will be provided through a €305m senior-secured unitranche facility, backed by the company’s institutional shareholder Portobello Capital (“Portobello”).

Condis is the leading proximity supermarket group in Catalonia, recognised for its convenience-led format, dense urban footprint and strong local brand. The supermarket group was founded in 1961 and is headquartered in Montcada i Reixàc, near Barcelona. Today, it operates more than 700 supermarkets, combining owned stores and franchises across Catalonia, with a main focus on the Barcelona city area, under the Condis and Condis Express brands.

The transaction was led by the Condis management team, backed by Portobello, and positions the company for its next phase of growth under continued sponsor and management ownership. The terms of the transaction have not been disclosed.

Manel Romero, CEO of Condis, said: “This transaction marks an important milestone for Condis, following our team’s work over many years to build a strong, locally-rooted business with a clear identity, convenient shopping proposition and a deep commitment to the communities we serve. With the support of Hayfin and Portobello alongside our management team, we are well positioned to accelerate our growth while preserving the values that define us. We look forward to beginning this new chapter.”

Juan Luis Ramírez, Partner at Portobello Capital, said: “We are delighted to support Condis as it continues to build on its strong track record of operational excellence. The team there have a clear strategy for long-term expansion, and this transaction highlights our continued commitment to that ambition, which has underpinned the company’s success since our entry in 2021. We look forward to continuing to work with Manel and the broader team on this exciting next phase of growth.”

Pepe Trasobares, Principal at Hayfin, said: “Condis has established a leading position in the Catalan grocery market through a strong brand, a differentiated, proximity-led model and its extensive local footprint. We’ve always been impressed by the team’s vision since our first interaction in 2019, and we’re delighted to provide this financing and support Condis as it continues to succeed.

The transaction also reflects Hayfin’s long-standing commitment to Spain, where our origination team has been on the ground for over a decade, investing more than €2.5bn of capital to date with high-quality businesses in the region.”