**Jeronimo Martins Eyes Aggressive Growth Strategy to Reach €50 Billion Revenue**
**Meta Description:** Jeronimo Martins plans to boost sales by 50% and reach €50 billion in revenue by 2029, potentially through acquisitions in Poland.
**URL Slug:** jeronimo-martins-growth-strategy
**Jeronimo Martins Eyes Aggressive Growth Strategy to Reach €50 Billion Revenue**
Jeronimo Martins, the Portuguese retail giant, is contemplating a more aggressive growth strategy to achieve a 50% increase in sales over the next five years. The company aims to reach €50 billion in revenue by 2029 or 2030, a target announced by Chairman Pedro Soares dos Santos in March. This ambitious goal has sparked internal discussions about the company’s future direction.
In a recent interview, Chief Financial Officer Ana Luisa Virginia emphasized the importance of this target, stating, “The chairman said very clearly that he’s setting that target as an ambition for the group.” While the specifics of the plan remain undisclosed, Virginia suggested that achieving the €50 billion goal would likely involve mergers and acquisitions (M&A).
Analysts speculate that potential acquisition targets could include competitors in Poland, Jeronimo Martins’ most significant market. Notably, assets owned by Carrefour SA are under consideration as the French retailer undergoes a strategic review to enhance its valuation. Carrefour has emerged as a leading M&A target in Europe, according to a recent survey by Bloomberg News.
However, Virginia noted that anti-monopoly regulations would prevent Jeronimo Martins from acquiring the entire Carrefour chain in Poland, where it already holds nearly 30% of the market share. She refrained from commenting on whether the company is interested in smaller-scale acquisitions of Carrefour’s assets. “We are monitoring the situation,” Virginia said, referring to the potential sale of Carrefour’s Polish operations. “We think that there are still white spaces in the Polish market that we prefer to occupy ourselves rather than leave it for our competitors.”
Traditionally, Jeronimo Martins has focused on organic growth and small asset purchases, particularly in Poland, where it operates the leading supermarket chain, Biedronka. Although the company recently expanded into Slovakia, it is known for its cautious approach to acquisitions. Virginia stated, “We are very careful. Up until now, we only acquired things that made sense to our business. We don’t buy to sell, and this of course means we do mergers and acquisitions every 10 years or so.”
The last significant acquisition by Jeronimo Martins occurred in 2008 when it purchased Plus discount supermarkets in Portugal and Poland from Tengelmann Group for approximately €320 million. While the company continues to explore opportunities in new markets, Virginia indicated that current acquisition strategies focus on acquiring small portfolios of stores from retailers exiting markets where Jeronimo Martins already operates.
As Jeronimo Martins sets its sights on ambitious growth, the retail landscape in Poland remains a critical area of focus, with potential opportunities for expansion and strategic acquisitions on the horizon.
**FAQ**
**What is Jeronimo Martins’ revenue target for 2029?**
Jeronimo Martins aims to achieve €50 billion in revenue by 2029 or 2030, representing a 50% increase in sales over the next five years.
