Porgugal's Sonae MC has announced that it has completed the deal to acquire 100% of Brio’s capital and 51% stake in the company that owns Go Natural.
The Portuguese retail and telecommunications conglomerate said that both deals are in line with its strategy to invest in Health and Wellness, i.e healthy foods and promoting a healthy lifestyle.
Sonae MC already has a network of seven organic supermarkets in Portugal, and it believes Brio will allow it to accelerate its strategy to grow within Health & Wellness.
It said, ‘The Brio supermarkets will all undergo a process of communication standardisation under the Go Natural brand […] which will open new growth opportunities. Furthermore, the range of products and services at the several stores is predicted to grow, through more references and the possibility of introducing restaurant services in spaces with enough room for such purposes.’
As well as establishing its Go Natural network of healthy, organic supermarkets, Sonae MC is also developing dedicated areas to organic food at Continente stores.
It said, ‘Sonae MC’s offer in this segment is also promoted by Well’s, which provides a wide range of products and services specialised in health and wellness across its more than 200 stores, in addition to Well’s Health Plan that seeks to provide Portuguese families with an easier access to private healthcare.’
Sonae initially announced the agreement to the acquisitions in April, pending the final consolidation of the transaction.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Aidan O’Sullivan. Click subscribe to sign up to ESM: The European Supermarket Magazine.