IMAP Portugal is pleased to announce that Finançor Group has closed a new partnership deal with Grupo Jerónimo Martins (“GJM”) for its food retail operations in the Azores. As part of this transaction, GJM will be making a 20% equity investment in Finançor’s food distribution business.
Finançor’s food distribution business is composed of 12 food retail stores on the São Miguel, Santa Maria and Pico islands and 1 wholesale cash and carry store on São Miguel island.
GJM (JMT:LS) is one of Portugal’s largest multinational groups (c. EUR 8.9 billion market cap) that operates in food distribution and specialized retail. It operates over 4,400 stores in Portugal, Poland, and Colombia.
IMAP Portugal played a key role in the introduction of both parties and in the subsequent negotiation process that led to the establishment of the partnership and usage of GJM’s brand insignias “Pingo Doce” and “Recheio” by Finançor in its Azorean food retail/wholesale outlets.
The IMAP Portugal team, led by Gonçalo Vaz Botelho, acted as exclusive financial advisor to Finançor Group.