ACN
The general director of La Caja de Canarias, Juan García Falcón, and the president of the Board of Directors of Destilerías Arehucas, Rafael Méndez Martín, signed this morning a loan operation that allows this Canarian industry to acquire the Artemi Group.
The subscribed operation, for a total amount of 18.6 million euros, has been destined to finance the purchase of one hundred percent of the social participations that the Quintana Ramos Family had in the Fábrica de Licores Artemi S.L. --dedicated to the production of spirits, liquors and compounds--, of Distribuciones del Archipiélago Canario, S.L. -focused on the distribution of production- and indirectly, in the subsidiary of both, Intercanarias de Alcohol S.L. -company dedicated to the distillation of alcohol--. This operation implies the relief in the management and direction of the companies of Felipe, Claudio and Miguel Ángel Quintana Ramos, businessmen with a long history in the sector of the production and distribution of alcoholic beverages, and the entry of a new team in the direction and management in the aforementioned companies.
La Caja de Canarias, in its firm conviction to support and promote the Canarian business sector, offers advantageous conditions to Destilerías Arehucas, and contributes to carrying out an operation that implies the growth of a Canarian industry, by taking a significant part of the market share of liquors and spirits in the Islands, a circumstance that has required the prior approval of the authorities in matters of competition.
This translates not only into a better position in relation to foreign brands, but above all into the maintenance of jobs and a local productive sector with great tradition and giving more opportunities to Canarian companies to promote their incidental exports to other markets.
The companies participating in the operation have fully trusted La Caja de Canarias to carry out this important operation, thanks to the unconditional commitment that the financial institution demonstrates with all sectors of the Canarian economy.
