Jerónimo Martins acquires Luís Vicente Group

The agro-foodstuffs arm of Portuguese grocery giant Jerónimo Martins led by Pedro Soares dos Santos has again headed out with a shopping list – this time snapping up the Luís Vicente Group.

The company had been part of the NuviGroup that produces and sells fruit and vegetable products.

NuviGroup announced the acquisition on Tuesday after having reached a sale agreement for its fruit and veg unit operated by Luís Vicente in Portugal to Jerónimo Martins Agroalimentar (JMA).

In a note sent to news desks, the holding says the sale was part of Nucigroup’s strategy to focus on business deals where it has the greatest competitive advantage and growth potential: the drinks sector through Grupo Refriango and food retail through Arreiou Supermarkets.

Neither company has released details of the deal and the sums involved. The acquisition is still subject to the green light from Portugal’s competition authority but assures that all jobs will be retained and assures the continuity Luís Vicente now under the leadership of a partner of reference with a vast and proven track record in the sector.