Spain: Mercadona to expand to Portugal
Spanish supermarket chain Mercadona has announced its intention to move forward with its plan for global expansion by entering the Portuguese market. The company's goal is to open the first four stores in the country by 2019.
Mercadona estimates that the initial investment will be in the order €25 million ($27 million) and the expansion is expected to create about 200 jobs in its first stage. The company said initial field work would enable it to identify the most suitable locations within Portugal for its first store openings.
"Portugal is a great opportunity to begin our international growth, and a country which offers so many learning opportunities both in terms of consumers and the highly competitive distribution sector", commented company president Juan Roig. “The ability to contribute to economic and social progress within the country as well as to the development of the agri-food sector is an exciting challenge and one to which everyone who is part of the Mercadona project can aspire”.
Mercadona added that Portugal was chosen as the firm's first international market due both to its proximity and its logistical advantages.
Source: Mercadona / Hiper Super