Sonae acquires majority stake in Musti, enhancing growth

Sonae, SGPS, S.A., held a conference call on March 20, 2025, to discuss its financial results for the fourth quarter of 2024. The call featured key company leaders, including CFO Joao Dolores. Mr. Dolores expressed gratitude for everyone’s participation and highlighted the strong performance of Sonae in the previous year. He mentioned the company's significant investments, totaling over EUR 1.1 billion, particularly in mergers and acquisitions. One major achievement was Sonae's acquisition of a majority stake in Musti, a leading pet care retailer in the Nordics, through a public tender offer. Sonae now owns more than 80% of Musti and views this investment as an important step for growth in the European pet care market. The conference continued with a presentation of other developments and opportunities within Sonae's portfolio. Afterward, the company opened the floor for questions from investors.