AzValor Comments on Logista

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Aug 07, 2020

Logista (XMAD:LOG, Financial) is a quasi-monopoly in the wholesale distribution of tobacco in Spain, France and Italy. It is a solid business with strong barriers to entry, a renewed (and excellent) management team, and which we bought after it fell by almost 40%.

From azValor Asset Management's second-quarter 2020 letter.