Modelo Continente

Modelo Continente
For the Peruvian airline, see Nuevo Continente.
Modelo Continente, S.G.P.S., S.A.
Type Subsidiary
Industry Retail
Headquarters Matosinhos, Portugal
Products Grocery, General merchandise, financial services
Parent Sonae
Website http://www.continente.pt/

Modelo Continente (full name: Modelo Continente, S.G.P.S., S.A.) is the biggest retailer in Portugal.[1] Nowadays the hypermarket Continente chain is in Amadora, Antas (Porto), Cascais, Coimbra (CoimbraShopping and Fórum Coimbra), Covilhã, Guia, Guimarães, Leiria, Lisboa (C.C. Colombo, C.C. Vasco da Gama and Telheiras), Loures, Mafra (opened on October 1, 2008), Maia (MaiaShopping and Maia Jardim), Matosinhos, Ovar, Portimão (V6 and Retail Park), São João da Madeira, Seixal (Arrentela), Viana do Castelo, Vila Nova de Gaia, Vila Real, and Viseu (Av. da Bélgica and Retail Park). The supermarket chain Continente Modelo, formerly named just Modelo, has also a nationwide presence. Modelo Continente, S.G.P.S., S.A. is a subsidiary company of Sonae SGPS's Sonae Distribuição.

Contents

History

Modelo Continente started in 1985 by the merger of two large retailers, Modelo and Continente. Modelo was owned by the Sonae holding, while Continente was the Portuguese and Spanish operation of the French retailer Promodes, known by the ensign Continent elsewhere.

Thus, it was part-owned by its French competitor, Carrefour, who sold their stake to Sonae for €345 million on 16 November 2004.[2]

In 2008, Carrefour sold its Portuguese retail ventures existing under the Carrefour ensign to Sonae. Continente used to have one branch in Dubai, which was later purchased by Carrefour. The Continente ensign disappeared from Spain after the 1999 Carrefour-Promodès merge.

See also

References

  1. ^ "Portugal's Biggest Retailer Selects SeeBeyond". ebiz. Archived from the original on 2011-02-12. http://www.ebizq.net/news/3274.html. Retrieved 2007-02-20. 
  2. ^ "Carrefour announces the divestment of its stake in Modelo Continente and the acquisition of 13 hypermarkets in Poland from Ahold.". Carrefour. http://www.carrefour.com/docs/comm_portugal_pologne161104en.pdf. Retrieved 2007-02-20. 

External links

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