According to IDB Invest website, the transaction consists of guaranteed, long-term core financing for Corporación Favorita, C.A. To date, CF is the largest self-services chain in Ecuador, the largest private company in terms of income, and the second largest employer in the country. IDB Invest's resources will allow the Company to execute its Capex 2018-2022 plan, allowing it to use its own resources to strengthen its business in Panama and continue its international expansion.
To date, CF is the largest self-services chain in Ecuador, the largest private company in terms of income, and the second largest employer in the country. This Company is also in the process of becoming a MultiLatina, as it has invested in businesses in Chile, Colombia, Paraguay, Peru, and Costa Rica and holds a controlling interest in Panama’s Supermercados Rey since early 2019.
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