LeadCrest Capital Partners, a fund manager dedicated to sale-and-leaseback and build-to-suit investments in Europe, has acquired a 49% stake in Alcapredial, the Portuguese real estate arm of Groupement Les Mousquetaires.

Groupement Les Mousquetaires is France’s third-largest food retailer and operates close to 4,000 stores in France, Portugal, Belgium and Poland.

The retail group’s portfolio in Portugal includes more than 260 stores with a combined gross asset value of approximately €500m, including supermarkets, DIY stores and auto maintenance workshops.

The portfolio accounts for more than two-thirds of Les Mousquetaires’ total footprint in Portugal, with the remaining stores owned by cooperative members, also known as ‘adherents’.

Pedro Subtil, chair of ITMP Portugal, said: “We are thrilled to partner with LeadCrest for this highly strategic transaction. Their flawless execution, proactive approach and exceptional financial expertise, combined with the hard work and know-how of their experienced team, have been critical in achieving our long-term financing goal to support the development of our Portuguese network.”

Romain Bedu, chair of Immo Mousquetaires, said: “LeadCrest has proven to be a strategic partner who shares our values and aligns perfectly with our growth ambitions in Europe. LeadCrest successfully supported us through this complex transaction.”

Georges Asmar, president, managing director and portfolio manager at LeadCrest, added: “We are incredibly proud to partner with Mousquetaires and to have successfully completed this complex transaction. We deeply admire the expertise of Groupement Les Mousquetaires, their unique business model, and their ambitions for Portugal and Europe in the coming years.

“We are confident in the distinctive strengths and advantages of their cooperative model, and we are delighted to actively contribute to their expansion plan.”

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