Sonae goes shopping and buys Brio
By means of its food retail business, Sonae has acquired 100% of Brio's capital. Brio is a chain of six supermarkets specialized in organic food in the Lisbon metropolitan area.
Sonae has purchased 100% of Brio’s capital, a six-supermarket chain in the Lisbon metropolitan area which specializes in organic food. The operation, performed through Sonae’s food retail unit, was disclosed to the markets this Wednesday and the transaction is still dependent “upon the verification of precedent conditions predicted in the agreement”. The amount involved in the acquisition has not been revealed.
In a press release, the retailer mentions the purchase will allow them to “accelerate Sonae’s growth strategy” in the health food segment, “benefiting from Brio’s chain of stores and their high level of expertise and broad network of suppliers in the organic market segment”.
This operation comes shortly after Sonae acquired, in December, 51% of the capital of Go Well. Through the “Go Natural” brand, the company operates in 22 restaurants equally specialized in healthy eating in Portugal, located mainly in malls. Meanwhile, Sonae MC opened is first supermarket “entirely devoted to healthy and organic food”.
Sonae has been betting on the “health and wellness areas”, namely concerning food. It is their response to “the growing demand for a supply which promotes a healthy life style and contributes to a better life quality”, the company states in their press release.