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Sonae Invests in Spanish Online Grocer Ulabox

Published on Jun 6 2015 11:47 AM in Technology tagged: Sonae / Ulabox / Online Food Shopping

Sonae Invests in Spanish Online Grocer Ulabox

Portuguese retail giant Sonae has invested €5 million in Spanish online grocer Ulabox.

The investment makes Sonae one of the online supermarket's main shareholders; the Portuguese retail group employs more than 40,000 employees across 60 countries.

Established in 2011, Ulabox is now a leading online supermarket in the Spanish grocery market with 35,000 customers and 12,500 SKUs.

Founded by David Baratech, Jaume Goma and Sergi de Pablos, Ulabox promises a 24-hour delivery service to its customers across Spain.

In 2011, the start-up pure-play online retailer raised €750,000 from Cabiedes & Partners and other investors. Logistics group Miquel Alimentació then bought a 30 per cent stake in the conpany in 2013.

The etailer had a turnover of €4 million in 2014.

© 2015 European Supermarket Magazine – your source for the latest retail news.

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