The Abacus cooperative has reached an agreement with the Pictet group and its local partner Freo to sell its logistics center in Vilanova del Camí for 31 million euros, according to market sources. It is a sale operation
This sale process comes at a decisive moment for Abacus, just one year after the merger with Som and when the plan outlined after the integration begins to pick up speed. The income obtained allows the cooperative to strengthen its balance sheet to face the planned investments in digitization and production of educational and audiovisual content in Catalan (including films), the main pillar of its new strategy. Developing these products is expensive, and with the operation Abacus gains financial peace of mind. The improvement of its digital platform, with a more agile consultation and purchase process for the user, is another of its main objectives.
Another smaller part of the investment (around one million euros) will go to refurbishing its network of 48 stores. The cooperative wants to specialize 20 of them in a specific product line, following the model that it has already implemented in its shop on Còrsega street in Barcelona. The number of stores will remain stable, with no openings or closings in the portfolio.
Last year, Abacus and Som approved their merger after two years of negotiations. The cooperative resulting from this process, chaired by Maravillas Rojo, controls all phases of the educational and cultural content industry, from the creation of products to their marketing and distribution, both digital and physical. Abacus provided the network of 48 establishments in Catalonia, Valencia and the Balearic Islands, in addition to its online store. Som incorporated the creation of content with headers such as Sàpiens and various publishers. Now, after the pandemic and the integration process, it is facing a new phase in its business plan.
The economic forecasts for this year are also positive. In 2021, the cooperative invoiced 90 million euros, 10.5% more than in 2020. This 2022, even without taking into account the capital gain from the sale of the logistics center, expects to increase sales and obtain profits.
