Lisbon, July 24, 2024 (Lusa) - On 12 July, footballer Cristiano Ronaldo acquired a 30% stake in Vista Alegre's Spanish subsidiary, the group said in a statement released on Wednesday.
‘As announced when he acquired a 10% stake in VAA - Vista Alegre Atlantis SGPS, S.A., Cristiano Ronaldo completed on 12 July, through CR7, SA, the acquisition of a 10% stake in VA Vista Alegre España, S.A.,’ the statement sai.
The entry into the capital of the footballer's VAA subsidiary will have ‘a clear impact on the promotion of the Vista Alegre and Bordallo Pinheiro brands in Spain’, the group said.
Vista Alegre pointed out that ‘it currently has its own shops in premium locations in Madrid and Barcelona, and has commercial spaces in the prestigious El Corte Inglés chain throughout Spain’.
Cristiano Ronaldo bought a 10% stake in Vista Alegre Atlantis in June and agreed to acquire a 30% stake in Vista Alegre Spain at the same time, according to a statement to the market.
At the same time, the captain of the Portuguese football team and Vista Alegre announced the creation, ‘in equal shares’, of a company in the Middle East and Asia, with the aim of growing the Vista Alegre and Bordallo Pinheiro brands in those markets.
In a statement released today, Fernando Campos Nunes, founder and shareholder of Grupo Visabeira, which owns Vista Alegre, said that ‘Cristiano Ronaldo's entry into the capital of VA Vista Alegre España, S.A. has a fantastic impact on Spanish society and will strengthen the brand's operations in the country, which already represents the third most important market in terms of foreign markets’.
For Cristiano Ronaldo, ‘having the chance to help boost Vista Alegre and Bordallo Pinheiro in Spain is another step towards affirming the globalisation of the brands’.
The Vista Alegre Group, which produces porcelain, earthenware and stoneware, totalled sales of €129.6 million in 2023.
The foreign market accounts for around 70% of the group's turnover, with countries such as Germany, France, Spain, Italy, the USA and Brazil standing out.
ALN/ADB // ADB.
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