MC Sonae to invest €142 million with €100 million from ECB

MC Sonae, a leader in the food retail sector in Portugal through its Continente hypermarkets and Wells pharmacy stores, is planning a €142 million growth acceleration investment with a strong €100 million input from the European Central Bank (ECB).

The investment will be used to beef up its retail presence, modernise its chain of stores, digital expansion, and increase efficiency and competitiveness.

This investment is part of the company’s growth strategy to consolidate its leadership in the food retail and wellness markets in Portugal.

This move takes place in a context of the Sonae Group’s strong investment in the Iberian market having already made significant investments in other areas such as the acquisition of France’s Diorren (BCF Life Sciences) for €152 million and the creation of market leading health and beauty operators in Spain Druni and Arenal.