Sonae Company Description
Sonae's business started in the 1950s in Portugal, making laminated wood paneling for use in construction. In the 1980s it began to diversify through the acquisition of a supermarket chain and the development of hypermarkets. Today, the Portuguese conglomerate is the country's #1 retailer and operates through many subsidiaries at home and in and Brazil, including the Continente and the Modelo Continente retail banners. It is also invested in wireless and fixed communication systems and services, Internet services, shopping center development and operation, and tourism. In late 2005 Sonae sold its supermarket business in Brazil, which included 140 stores, to US retail giant Wal-Mart for about $757 million.
View the Comprehensive Company Description for Sonae
The Company Description provides a historical perspective of Sonae's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of Sonae's evolution in the marketplace.
