Written in ECONOMY the 20/9/2022 · 19:50 hs
Vips is one of the most important restaurant chains in the country with more than five decades serving the best dishes to thousands of Mexicans, but Who owns Vips?
This restaurant chain began its history in 1964 when its first branch was opened in Lomas de Sotelo in Mexico City. Although at the beginning the name of the restaurant was VIP, over time people changed it to Vips.
The format of this restaurant was so successful that its founders opened another branch in Madero in 1970, and in Azcapotzalco and Coyoacán in 1979. The first Vips branch outside the capital was established in 1974 in the port of Acapulco. Since its inception it also has branches in Spain.
Who owns Vips?
Vips began as a family business, since it was founded by the brothers Jeronimo, Placido and Manuel Arango, but with the passage of time it underwent a series of changes.
The first of them occurred in 1994 when Vips merged with Walmart Stores Inc, which represented its expansion to more than 260 restaurants and by 2014 it was bought by the firm Alsea for 8 thousand 200 million pesos (mdp).
Years later, in 2017, the Vips Spain group was also acquired by Alsea, so both franchises are currently operated by this conglomerate in more than 70 cities.
For its part, Alsea is a Mexican multinational franchise restaurant company listed as the 71st most important company in the country in 2020.
Alsea was founded by the Mexican Alberto Torrado Martínez in 1989 and is considered the largest restaurant in Mexico with operations in Chile, Argentina, Colombia, Brazil and Peru.