The Planeta group suffers a shock that could affect the foundations of their property. The children of José Manuel Lara Bosch, president of the publishing company until 2015 - the year of his death - are exploring the sale of 33% of their stake, which would give entry to someone outside the family in the holding company.
The Lara García branch has commissioned the operation, valued at around 900 million euros, to Morgan Stanley, according to what El Confidencial reported this Wednesday. Led by José, one of the four children of Consuelo García Piriz and José Manuel Lara Bosch, they informed the other two ownership branches of their intention to sell their share of shares this Monday.
The movement is the result of disagreements between the Lara Garcías and the rest of the owners. The origin of the family war dates back to 2017, when José Lara García, who was CEO, was removed from the management of the company. The relationship with the president of Planeta, José Creuheras, and the rest of the family branches was thus practically broken.
Until this summer, the Lara García brothers had 26% of Planeta's shares; Fernando Lara Bosch's children had another 26%, while his aunts Maribel Lara Bosch and Inés Lara Bosch each owned 24%. After the death of Maribel Lara just a few months ago, the three remaining family branches distribute the titles equally (around 33% each).
Group sources indicate that, in any case, that the shares for sale represent a "minority stake" and that the other two-thirds of the property are "committed to the group and the current strategy."
In the last year, the Planeta group exceeded its pre-pandemic business volume, with revenues of 1,800 million euros, 6% more than the previous year and above the 1,782 million in 2019. The president of the publishing holding, José Creuheras, highlighted a few days ago the “economic solidity” of Planeta, reflected in an increase in gross profit (ebitda) of 15%, up to 350 million euros, and a debt that remains at 250 million but which they have managed to diversify .
This year the company has carried out a private debt issue for one hundred million euros with the American Prudential, which has served to improve its financing. The remaining 150 million continue as bank debt.
Of the group's three main business lines, training is the one that is growing the most. Its turnover now represents 23% of the total, one point more than in 2021, and it has 120,000 students and 6,000 teachers in eight countries. Planeta's intention is to enter new markets and expand existing ones, with special interest in Latin America.
The weight of the publishing sector, the origin of the company, remains at 26%, while the media sector, with Atresmedia at the helm, contributes 49% – the rest is distributed among smaller business divisions – The president of the group He stated that they continue to evaluate the market in case investment opportunities arise, although he assured that there are no mature ones on the table. This January they acquired 60% of the Valencian publishing house Bromera, capital that they will maintain for now.
Regarding its network of stores, Planeta has added three new establishments, to which a fourth will be added before the end of the year in Alicante. With the three openings planned in 2024, the company will now reach its goal of 60 stores. “One in every five books sold in Spain are sold in La Casa del Libro,” said Creuheras.
