Sonae sells 25% stake to drive growth

Sonae Group, the holding group of the leading retailer in Portugal, Sonae Modelo Continente, has sold a stake of 24.99% of the retail division to CVC Capital Partners, for near €600M.

CVC Capital Partners is a leading private equity group with $115bn of assets under management.

The apparent rationale for the transaction as disclosed was that Sonae would benefit from the know-how and experience of the CVC group to support Sonae MC’s growth strategy.

CVC Capital Partners has currently 100 investments, 24 of them in the retail sector. One of those investments is in Zabka Polska, one of the fastest growing (convenience) retailers in Poland with a country wide network of 7,000 franchised stores.

Sonae MC’s main competitor in Portugal is the Jerónimo Martins group who owns the Biedronka retail chain in Poland as well.