Portugal: Sonae acquires organic supermarket chain Brio
Portuguese retail and telecoms conglomerate Sonae has announced that it has reached an agreement to acquire organic supermarket chain Brio.
Brio is now 100% owned by Sonae through an acquisition agreement concluded between Sonae MC and The Edge Group, which has owned the chain since 2010.
Brio operates six stores across Lisbon, each store entirely focused in organic food.
Luís Moutinho, CEO of Sonae MC said: "This expansion of Sonae MC's presence in healthy food retail strengthens our leadership position in this market segment and contributes to our commitment to providing the best and most accessible offer to every consumer, whatever their needs or lifestyles".
The acquisition is part of Sonae's stated strategy of "investing in the area of health and wellness" and comes after the firm acquired a 51% stake in the Go Natural supermarket chain last December.