Portugal’s Competition Authority (AdC) has given the 'green light' for the takeover of full control of Go Well by Portuguese retail group Sonae MC.
According to the antitrust ruling, the acquisition of the entire shareholding of Go Well will not create 'significant barriers' to effective competition, as the company only has a market share of around 5%.
Go Well, which was jointly controlled by Sonae MC and real estate company Imospel, operates the Go Natural chain and provides catering services. The brand operates 22 restaurants, and a range of food concessions in Sonae MC stores across Portugal.
There are also 14 Go Natural supermarkets in Lisbon and Porto, selling over 4,000 healthy and organic products.
In 2019, Go Well achieved a turnover of around €5 million.
Last June, Go Natural announced plans to expand its assortment to include more healthy eating products and its entry into a further 50 stores owned by Sonae MC.
Go Natural’s convenience products are available in the take-away sections of Continente, Continente Bom Dia, Continente Modelo, My Auchan and Go Natural stores throughout Portugal.
In June, Go Natural launched an online store, offering more than 1,500 products from 15 different categories, including fruit, vegetables, baby food and personal hygiene. From October, consumers can also order Go Natural meals via Glovo.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine