sells shares in Manolo Bakes for 5.5 million euros

The saying goes that ‘with bread, sorrows are less’ and with five million euros you can buy a loaf of bread and even several entire bakeries. Alvaro Morata It won’t ease the pain of breaking up with you. Alice Campello after seven years of relationship and four children together, but it certainly gives him peace of mind to focus on other matters. And five million is what the footballer and his partner earned, Pablo Nuño Utandefollowing the sale of shares in Manolo Bakes, the famous pastry business they entered in 2017.

The entry of the VGO fund into the company last January caused a lot of confusion. At the time, many media outlets suggested that Morata could have acquired all of Manolo Bakes’ shares or, on the contrary, that he had sold them to leave the business behind. Well, neither one nor the other. The footballer and his partner sold only part of their shares, specifically 5,838 shares that were in the hands of Arte y Sano Millenium, a company in which Morata participates together with Nuño Utande, and received 5.5 million euros for the transaction, according to the publication The CountryOn January 11, 2024, the shareholders approved the sale and that same day they endorsed the distribution of a dividend for almost all of the proceeds from the transaction. Specifically, Arte y Sano Millenium distributed 5.1 million euros: 4.94 million from the transaction and another 130,759 from voluntary reserves.

They were not the only ones to sell: the Manzano family, founders of the original manolitos concept and with 28.48% of the capital, sold their complete package of 22,782 shares for 14.2 million euros through Gourmet Pasteleros Hijos de Manolo; while Inerzia Técnica received 1.75 million for 1,854 shares. In total, VGO paid 27.5 million euros to acquire 49.90% of the company, as stated in the latest accounts of De Boca en Boca 2017, the company behind the Manolo Bakes business.

Morata is not the only footballer to have invested in the bakery chain. Sergio Busquets and the brothers Thiago and Raphael Alcántara, all former FC Barcelona players, own 5.02% of the company through the company Sayaka Management.