French retail giant Carrefour has announced the divestment of its 22.37% stake in Portuguese retail group Modelo Continente for €345m (US$449.5m).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


As part of the same agreement Portugal’s Sonae, which bought the stake from Carrefour, has also acquired from the French group several trademarks, including Continente, Mappemonde and Jackerton for their use in Portugal.


Carrefour said the divestment of non-core assets would help the group grow profitability and return on capital employed outside France, one of its key priorities for the next twelve months.


The company added that its current presence in Portugal is strategic and represents an important growth opportunity for Carrefour in Europe. Carrefour operates eight hypermarkets and 361 MiniPreço hard discount stores in Portugal.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now