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Pingo Doce to Boost Presence in Central Portugal

Published on Jul 10 2015 9:12 AM in Retail tagged: Trending Posts / Sonae / Portugal / Continente / Pingo Doce / Jerónimo Martins

Pingo Doce to Boost Presence in Central Portugal

Pingo Doce plans to boost its presence in Central Portugal with the acquisition of IG Supermercados in Oliveira do Hospital.

The store is owned by the Gonçalves brothers and operated by the company Armazéns de Mercearia Oliveirense (AMOL).

Pingo Doce, which is owned by Jerónimo Martins, has already notified Portugal's Competition Authority of its intention.

The deal has also been confirmed by one of the owners of IG Supermercados who, in a statement to Centro TV, admitted to "closing the deal" with Pingo Doce without advancing further details.

The Competition Authority has given third parties ten days to submit any comments they might have on the acquisition.

Meanwhile, daily Folha do Centro has reported that Sonae is also strengthening its position in the region, with plans to open a Continente Bom Dia convenience store, in the same area.

© 2015 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic

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