Spanish retailer Mercadona has decided to accelerate its Portuguese debut to 2017/2018, one year ahead of the previously announced date of 2019.
The news was revealed by Portuguese President Marcelo Rebelo de Sousa, reported daily Publico.
Mercadona will open its first stores in the Porto area. Recently, the company announced that it has registered a company in Portugal called Irmãdona.
In the first phase, it plans to invest €25 million and "create about 200 jobs".
The president of the family-run company, Juan Roig, said that Portugal is a "great opportunity to start the international growth" of Mercadona, as it is "a near market, of logistic proximity and fits in the organic and natural growth of the company".
Mercadona will compete with two heavyweights in the Portuguese market: Continente (part of Sonae group) and Pingo Doce (owned by Jerónimo Martins).
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.