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Americans buy Braga’s Minipreço in a $150m deal that includes several Pingo Doces in the country

Today the investment fund LCN Capital Partners, from the United States of America (USA), has concluded the purchase of the largest portfolio of supermarkets in the country, with a total of 49 stores, mostly Pingo Doce, but also including Continente and Minipreço, of them in Braga. In total, there were more than a dozen parties interested in purchasing these stores, all of which were international funds.

In total, there are 44 Bingo Dos shops averaging 1,400 square meters each, representing €8.1 million in annual rents. 20 of them are in Lisbon and Porto, and there are others in the rest of the country, but the exact locations have not been disclosed. In Braga, there is known to be a Minipreço included in the deal. The store area is about 1,000 square meters, but the exact location has not been disclosed. The annual income of this store is 68 thousand euros.

“With enthusiasm,” Carlos Vieira Neto, vice president of LCN Capital Partners, quoted in a statement today the closing of the deal with former owner Trei, announcing the expansion of the economic group in Portugal that “consolidates it as the largest owner and operator of supermarkets” in the country and “one One of the largest in the Iberian Peninsula.

The big news is the addition of Pingo Doce stores to the portfolio, he explains: “We are really pleased to add Pingo Doce to the list of tenants and partners in our European portfolio, as it is one of the leading retailers at the Nacional level.” There is also a Continente store, in Setúbal, included in the deal.

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