December 28, 2018 / 12:46 AM / 6 months ago

Mexico's Alsea closes acquisition of Spain's Grupo Vips

MEXICO CITY, Dec 27 (Reuters) - Mexican restaurant operator Alsea said on Thursday it had completed its purchase of Spain's Grupo Vips for about 575 million euros ($657 million).

The combined sales at Alsea's Europe division will represent more than 35 percent of Alsea's total sales, the company said in a statement.

Grupo Vips in the third quarter 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.

$1 = 0.8748 euros Reporting by Mexico City Newsroom, Editing by Rosalba O'Brien

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