Portuguese retail group Jerónimo Martins is eyeing potential locations in Romania, with plans to launch in the country in the next two and a half years, according to reports.
In an interview with Portuguese daily Jornal Económico, chief executive Pedro Soares dos Santos explained that the company has already achieved a significant market position in Poland and will need to expand further in Central Europe in order to maintain its growth potential.
However, he made it clear that Jerónimo Martins has 'no interest' in acquiring stores that are part of the DIA group, given that the Spanish retailer does not have a presence in Colombia, Poland or Central Europe.
In addition, DIA's Portuguese outlets do not appeal to Jerónimo Martins, as it does not believe it would obtain a green light from competition authorities.
Latin America
In terms of Latin America, Soares dos Santos ruled out potential future development in Brazil, noting that the country is not part of the Pacific Alliance, which incorporates Peru, Chile and Mexico, with Ecuador soon likely to join.
He added that the Alliance is "much more stable economically, legally and politically" and values private initiative, adding that acquisitions in these markets could prove interesting, "because they have trade agreements, allowing for easier transportation of goods".
Commenting on the good performance of Jerónimo Martins in 2018, Soares dos Santos said the company is investing heavily in infrastructure, opening more than 227 new stores and warehouses.
Jerónimo Martins is present in Portugal, Poland and Colombia with stores both in the food and non-food segment.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
