Sonae to invest up to €725M by 2021

in Business · 18-10-2019 01:00:00 · 0 Comments
Sonae to invest up to €725M by 2021

Sonae has said that it intends to invest up to €725 million in food retail by 2021, including the opening of up to 60 ‘Bom Dia’ proximity stores and new ‘Continente’ supermarkets.

According to a presentation made to investors and published on the website of the Portuguese Securities Market Commission (CMVM), in the coming years, the company led by Cláudia Azevedo expects to open between 50 and 60 Continente Bom Dia stores and another four to eight of Continente Modelo supermarkets.

In the document, the company highlighted the goal of accelerating the expansion programme of food retail proximity stores, located near population centres, and announced that this priority will represent an investment of between €260 million and €280 million.

To this value, Sonae added for the same period (2019-2021) €445 million for maintenance and optimisation of its existing shops and supermarkets.


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