Origins and History

1792

A young Galician, Jerónimo Martins, came to Lisbon in search of better times, opening his small store in the Chiado.

In that distant year of 1792, Jerónimo Martins would never have imagined that his humble shop would live to be more than two hundred years old, transformed into the Group as it is today.

In his small shop, he sold a bit of everything: sausages, sacks of wheat and corn, bundles of tallow candles, jugs of wine, brooms, etc.

1797

Jerónimo Martins became the main supplier of the Royal Household, of most of the embassies in Lisbon and of the ships sailing into the Tagus.

Originally situated in what is now Rua Ivens, the store moved to Rua Garrett, to a building that stood until the great fire of 1988 which was to destroy most of the traditional image of the Chiado.

Political events unfolded but the image of the store remained unchanged. The French invaded; the royal family fled to Brazil; the Liberals came to power and during all this time elegant Lisbon continued to shop, often on credit, at Jerónimo Martins.

Royalty also appreciated its goods and Dom Fernando, the widower of Maria II and regent of the Kingdom during the minority of Pedro V, granted Jerónimo Martins a warrant as supplier to the Royal Household, because "há por bem e lhe apraz" (he sees fit and it pleases him). Jerónimo Martins did not live long enough to receive this honour, which was granted to his son Domingos.

1851

A new product was to enhance the store's shelves: olive oil produced in Vale de Lobos by the writer, historian and politician Alexandre Herculano.

In the contract signed in his small and neat hand, Herculano defended his "fine olive oil", affirming that "any samples that bear my name, whether alone or associated with another, are completely false". In the 19th century, the store enjoyed increasing prestige.

Imported goods sold at the Chiado store

The Chiado store already offered a wide variety of products: an advertisement in the Jornal do Comércio invited readers to shop for "genuine Gruyère, London and Parmesan cheese, little barrels of superior olives from Marseille, salamis from Lyon and Italy, tins with sardines from Nantes, anchovies from Marseille, raisins from Malaga, wine from Champagne, gin from the Netherlands, cognac from France... and everything else imaginable".

1878

Despite this clear success, the grandsons of Jerónimo Martins faced a period of dramatic crisis.

One of the two half-brothers was overly fond of gambling, night life and fado, and became involved in ruinous parallel business. The situation reached a breaking point.

João António Martins fought tooth and nail to defend his store.

He sold everything he had: his home, horses, silver, furniture. He negotiated an extension and an agreement with creditors, and he ignored what he was owed, which was a great deal and by almost all the great names of the Lisbon aristocracy, from the King himself to the Prime Minister and countless members of the aristocracy.

1881

João António Martins recovered his honour, paid every debt and the "montre" of his store once again displayed the appetising delicacies.

He was to be the last Martins in charge of the Chiado store. Before dying without issue, he handed the store on to his most important staff and left all his property, including his share in the company, to an old friend, the lawyer Júlio César Pereira de Melo, who kept the name Jerónimo Martins.

By then the establishment was an institution, a point of reference in the Chiado area and the city of Lisbon.

1918

In the last year of World War I, the cost of living in Portugal increased, the food supply was disrupted and unemployment increased. Jerónimo Martins also experienced difficult times.

These factors triggered violent social reactions, including strikes and assaults, in a reaction against the Portuguese intervention in the armed conflict, calling for the withdrawal of Portuguese troops from the battlefields of Europe.

Although apparently flourishing, the company was unable to withstand the veritable economic revolution caused by World War I and, for the second time in its now long history, faced a situation of near bankruptcy.

1921

The solution for the Chiado store came from the north of the country, with Francisco Manuel dos Santos, the grandfather of Alexandre Soares dos Santos and Elysio Pereira do Vale.

The two partners in Grandes Armazéns Reunidos, a limited company founded in Porto in 1920, had started from nothing, working tirelessly to make their way in life and take charge of the "fine grocers". The company was reborn under the name "Establishments Jerónimo Martins & Filho".

The situation was not at all easy and Francisco Manuel dos Santos was forced to take out a loan of five thousand escudos from the bank Borges & Irmão, for which he offered as a guarantee "his work and his honesty".

It was this acquisition that led to the connection between Jerónimo Martins and Grandes Armazéns Reunidos and also represented a factor of growth for the Group. The decision was taken to restructure and expand the chain of retail stores, eliminating the sale and warehousing of non-food products, in a strategy that led to slow but steady recovery.

1938

During the World War II years, margarine becomes an essential product and it will be the protagonist of a strategic turning point in the Group's business.

Francisco Manuel dos Santos left the Leadership of the business in the hands of his son-in-law, Elísio Alexandre dos Santos.

The years of World War II were a period of shortage of many products, including margarine which had since become an essential product.

Elísio Alexandre dos Santos initiated a strategic turning point for the company by investing in manufacturing, opening the FIMA (Fábrica Imperial de Margarina, Lda) margarine and cooking factory in 1944. This was consolidated by the 1949 partnership with Unilever which has continued to the present day.

1949

The entry of the Group into manufacturing was confirmed by the joint venture with the multinational Unilever, whose products had been marketing since 1926.

Although it had been founded several years earlier, FIMA was only able to start operating almost at the end of World War II in Europe.

The essence of success for the lasting partnership with Unilever can be found in the excellent relations, based on a spirit of openness, trust and mutual respect and a long-term vision.

1953

Death of Francisco Manuel dos Santos.

Francisco Manuel dos Santos died three years after Lever (cleaning products and toiletries) joined Fima, becoming part of the joint venture between Jerónimo Martins and Unilever.

His seven heirs set up an informal partnership, while the heirs of Elysio Pereira do Vale decided to establish a real estate company.

1959

Unilever Jerónimo Martins entered the business of manufacturing and distributing ice creams.

Olá (ice creams) was acquired by the joint venture with Unilever, as a result of the purchase of a small ice cream manufacturing firm (Esquimó).

A few years later, in 1970, Iglo (frozen food) also became part of the joint venture with Unilever.

1968

The current Chairman of the Board of Directors, Alexandre Soares dos Santos, took charge of the family business after the death of his father.

Elísio Alexandre dos Santos (his father) died in Brazil while visiting his son - who was Marketing Director of Unilever-Brazil at the time.

As the family intended, and after he was granted his demand to be recognised as holding full administrative powers, Alexandre Soares dos Santos finally joined the family business.

He was the first person to realise that the future of Jerónimo Martins would involve building a strong presence in Modern Distribution, at a time when the Group's results were utterly dominated by manufacturing.

The vision and audacity of his leadership, which has lasted 42 years, and his ability to inspire and lead thousands of employees over decades, have made Jerónimo Martins the Group it is today.

1974

Jerónimo Martins was unaffected by the turbulent period of the 1974 Revolution.

This gentle transition was due, to a great extent, to the family's control of the company, which enabled it to maintain its objectives and guidelines unchanged. In Lisbon, the company survived the revolutionary fervour and its directors remained in the country. Its staff who returned from Angola were given new positions and its structures were safeguarded and remained unaffected.

1978

Setting up of the Pingo Doce company, which began to operate in 1980, and the definition of a clear strategy to explore the supermarket segment.

The year marked the return of Jerónimo Martins to its original activity: Distribution. This operation was achieved by the creation of an extensive network of large supermarkets that was rapidly developed.

1985

Jerónimo Martins became a holding company and established a strategic partnership with the Delhaize Group "Le Lion" for the development of Pingo Doce.

The traditional nearly 200-year-old company became a holding company, adopting the name of "Estabelecimentos Jerónimo Martins & Filho - Administração e Participações Financeiras".

The Jerónimo Martins Group set up a joint venture with Delhaize "Le Lion", the second largest Belgian retailer, which took a shareholding in Pingo Doce.

In the same year, Jerónimo Martins Distribuição (JMD) was set up. This brand representation company, in line with the company's traditional operations, represented and introduced into the market products by well-known brands such as Idal/Heinz, Rowntree/Perugina, Kellogg's, Calvin Klein and Bahlsen.

1988

The Jerónimo Martins Group acquired Recheio and entered the wholesale sector in the year of the great Chiado fire.

In a period of significant growth and expansion, the Group acquired 60% of Recheio, a cash & carry company. Pingo Doce continued grow, through acquisitions.

In 1987, the Jerónimo Martins Group bought 15 Pão de Açúcar supermarkets from the Brazilian retailers Supa and these further extended the network of Pingo Doce stores.

Chiado fire destroyed the historical store on Rua Garrett and the Jerónimo Martins offices.

1989

The Group buys Gallo and lists on the Lisbon Stock Exchange.

Fima acquired Victor Guedes, the company that produced Gallo olive oil, responsible for almost a fifth of the Portuguese market in this speciality, and was starting to expand internationally, particularly in emigrant communities.

The Jerónimo Martins Group acquired the remaining 40% of the Recheio chain, taking over the entirety of its share structure.

The remaining shares of the Vale family, held by the Elysio do Vale real estate company, were acquired by the Soares dos Santos family, in an operation that represented an enormous investment.

It required an Initial Public Offering that placed 25% of the capital on the stock market. It was thus launched on the Stock Exchange, although control of the company remained in the hands of Sociedade Francisco Manuel dos Santos.

1990

Creation of the specialist chain Hussel and acquisition of Arminho, a wholesale hypermarket.

The Jerónimo Martins Group set up a new chain retail specialist for chocolates and confectionary, Hussel, in partnership with the German company Douglas AG, diversifying its asset portfolio.

It acquired the cash & carry hypermarket Arminho, in Braga, one of the largest in the country. This acquisition was a strong boost for the Group's activities in wholesale Distribution, the development of which was further driven by the joint venture, in 1991, with the British Booker group, the largest food wholesaler in the United Kingdom.

1992

The Groups celebrates its 200th birthday and repositions itself strategically.

The strategic repositioning of Jerónimo Martins was revealed by the acquisition from Delhaize "Le Lion" of its stake in the Group's retail business.

That year also saw the setting-up of a joint venture with the Dutch company Royal Ahold, one of the largest Food Retail companies in the world, which still has a 49% stake in Jerónimo Martins Retail (JMR), the holding company that controls Pingo Doce.

Introduction of Private Brands.

This was the start of a multi-format strategy in retail and accelerated growth.

1993

Pingo Doce gained leadership of Food Distribution, in the supermarket segment.

The strategy followed by the Jerónimo Martins Group in its acquisition of Inovação, reinforced the existing joint ventures with Ahold and Booker, marking its expansion into urban centres in the North.

In Retail, the Group, in conjunction with Ahold, purchased Inovação, Sociedade Gestora de Participações Sociais, thus acquiring 53 Inô supermarkets, three Feira Nova hypermarkets and eight.

The cash & carry stores acquired enabled the Group to establish itself in the major urban centres of Lisbon and Porto, while reinforcing the decentralisation of Recheio.

In May, the acquisition of 45 stores in the Invictos and Mordomos chains was announced, as well as the purchase of the Loures Distribution Centre. In that year Jerónimo Martins Group also purchase 45 Modelo stores. Other important purchases were all significant for the Group's expansion into the North and Centre of the country.

In Manufacturing, FIMA acquired Sá & Brás, producers of Condestável olive oil,
becoming the national leader in this sector.

1994

Poland was identified as a target country for internationalisation.

At that time, apprehension about developments in the Distribution sector in the Portuguese market led the Jerónimo Martins Group to reconsider its priorities.

Internationalisation and expansion into foreign markets became the Group's prime objective. Poland was identified as a target country for internationalisation.

1995

International expansion of the Group into Poland.

Expansion into Poland started with the acquisition of the Polish cash & carry network Eurocash, once again in a joint action between Recheio and the British Booker company. The Biedronka project was launched.

1996

Purchase of the sports retailers Lillywhites in the United Kingdom and acquisition of the mineral water company VMPS, in Portugal.

The group acquired Lillywhites, one of the most prestigious sports retailers in the United Kingdom.

Operations in Portugal were not neglected however and that year the Jerónimo Martins Group, in association with BCP, launched in store banking, an innovation in the field of banking: Expresso Atlântico "stores" were set up within Pingo Doce and Feira Nova stores.

Expansion into new areas of business in Manufacturing and Services

In Manufacturing, FIMA acquired Panduave and Lever bought Diversey Portugal, exploring two new areas of the market bakery and toiletries.

In that same year, the Jerónimo Martins Group acquired Vidago, Melgaço & Pedras Salgadas (VMPS) e Companhias Associadas, producers and distributors of the brand leader in bottled water, and launched the mineral water "7 Fontes."

In Poland, it opened the first Jumbo hypermarket.

1997

Purchase of Biedronka in Poland and expansion into Brazil.

Continuing down its path of internationalisation, the Group moved into Brazil, starting in the State of São Paulo, where it acquired the Sé supermarkets.

Positioned as neighbourhood stores, they offered a varied range and personalised customer service.
In Poland, the option to purchase Biedronka was exercised, through the acquisition of 243 stores of this discount chain with "Operation Ladybird" winning over Polish market.

1998

Jerónimo Martins strengthened its positions in the wholesale market and launched the first online supermarket in Portugal.

The Group purchased Booker's holding in the Jerónimo Martins Group's cash & carry operations in Portugal (Recheio) and in Poland (Eurocash). The launch of Pingo Doce OnLine, the first virtual supermarket in Portugal.

Biedronka opens a further 130 new stores.

1999

Expansion of Biedronka in Poland and of the Sé supermarket chain in Brazil.

In Poland, 57 TIP discount stores are acquired from the Metro Group and integrated into the Biedronka chain.

In Brazil, the Group acquired Santo António supermarket chain in the state of São Paulo, adding a further 10 stores to the Sé supermarket chain. A partnership agreement was signed with the Martins Group (Brazil) for the development of sourcing, logistics, cash & carry and franchising services for supermarkets in Brazil.

Launch of a new concept in Portugal

In Portugal, Feira Nova opened its Sintra store, the first store with an innovative concept of customer service, with the launch of the "Electric Co." and "Quentes & Cia." concepts.

2001

Debt restructuring plan, with the sale of assets outside the food business.

A financial restructuring plan for the Group was announced. Business areas outside the core area were sold, reducing the level of debt. The operational restructuring helped to maximise the Group's economies of scale and synergies, simplify processes, reduce costs and at the same time focus the operational units on the commercial dynamics of their segments.

Under this plan, the Group sold Vidago, Melgaço & Pedras Salgadas, and its stakes in Expresso Atlântico and OniWay.

Continuing with its restructuring plan, in 2002 Jerónimo Martins sold Lillywhites in the United Kingdom, the Sé supermarkets in Brazil and the Jumbo hypermarkets in Poland.

In 2004, it concluded the sale of Eurocash to a group of employees and ex-employees through a management buy-out, focusing the Group its operations in Poland on the successful Biedronka format.

The rigour and professionalism that characterised the restructuring allowed the Group to return to a profit. Having sold its unprofitable businesses and reduced its debt, the focus on its original core business strengthened the Group's structure reinforced the value proposition of its brands.

Jerónimo Martins expands business in Poland

In Poland, Biedronka opened a further 35 new stores, raising the total number of stores to 621.

2005

Integration of Bestfoods Portugal into Fima and creation of the Jerónimo Martins Training School.

In 2005, after an agreement signed by Jerónimo Martins and Unilever in 2004, the integration of Bestfoods Portugal - Produtos Alimentares SA into Fima, a company owned by both partners, was concluded. This deal enabled Fima to integrate a new group of important food brands, including Knorr, Maizena and Alsa.

Even in an unfavourable economic situation, the competitiveness of its distribution brands increased both in Portugal and in Poland, as a result of greater operational efficiency and the extremely competitive pricing policy, reinforced in recent years.

2006

Group advances in the area of Social Responsibility in Poland and launches "Milk Start" for children.

The Jerónimo Martins Group continued to grow in 2006, in both Portugal and Poland, particularly in the area of Distribution, with the opening of 100 Biedronka stores and the sixth Distribution Centre for the Polish market, as well as 20 more stores in Portugal.

This dynamic performance of the Jerónimo Martins Group, visible in all its areas of business, extended to its Social Responsibility policies. The various initiatives implemented in 2006 included the creation of the programme to fight malnutrition among children in Poland, a problem that affected, in that year, almost 3 million children and young people.

In the area of Manufacturing, the frozen foods business was sold by IgloOlá and the decision was taken to set up a single company, Unilever Jerónimo Martins.

2007

Agreement for the purchase of the Plus chain in Portugal and Poland. Opening of the thousandth Biedronka store.

2007 confirmed Jerónimo Martins's leading position in the Portuguese business landscape. With sales growing to more than 5.3 billion euros, the Group demonstrated the success of the strategies defined and of a balanced management of its resources. The main drivers of this growth came from Poland, where the excellent results were accompanied by the opening of the 1000th Biedronka store, as well as from Portugal, with Pingo Doce consolidating its leading position.

Pingo Doce and Recheio certified their Private Brand

The excellent figures were accompanied by quality, a cornerstone of the Companies' differentiation strategy, with Pingo Doce and Recheio becoming the first companies in the world, in the field of Distribution, to certify the development and follow-up of their Private Brands.

Jerónimo Martins is one of the largest employers in Portugal

The Group was one of the largest employers in the country, having created 6,625 new jobs, ending the year with a total of 41,300 employees. Jerónimo Martins also continued with its social responsibilities in 2007, supporting the "Learning and Evolving" project, the objective of which is to train and certify 11,500 employees.

At the end of 2007, Jerónimo Martins acquired the Plus operations in Portugal and Poland, with a view to the integration in 2008, after obtaining the approval of the relevant authorities, of the Plus stores as 75 Pingo Doce stores in Portugal and 210 Biedronka stores in Poland.

2008

Conclusion of the acquisition of Plus, in Portugal and Poland. Rebranding of Pingo Doce.

Period of major expansion, characterised by the acquisition of the Plus operations in Portugal and Poland from the German Tengelmann Group. During this period, Biedronka opened 421 new stores and Pingo Doce opened 89 new stores.

In the Services sector, in 2008 the restaurant Chili's opened in the casual dining segment, in association with Brinker International.

2009

Creation of the Amanhecer brand and formal merger of Pingo Doce with Feira Nova.

The Amanhecer brand, a brand for food products to be sold in traditional shops, was created In 2009. Its success opened the way for the creation of Amanhecer stores, a project aimed at traditional retailers, to establish partnerships between the store owners and Recheio.

Sociedade Francisco Manuel dos Santos, the largest shareholder of the Jerónimo Martins Group, created the Francisco Manuel dos Santos Foundation.

The formal merger of Pingo Doce with Feira Nova opened the way for the conversion of the hypermarket chain into Pingo Doce branded stores.

2010

Pingo Doce launches the restaurant and Take Away service.

Pingo Doce, playing an increasingly important role as food solution supplier at a wide range of levels, went ahead with the development of Meal Solutions (Take Away and Restaurants), which have become an important factor of differentiation, loyalty and sales in the other categories. Take Away sales can now be found in 214 of the Company's 349 stores and a total of 33 restaurants are now in operation.

The Jerónimo Martins Group launched a new restaurant concept

In 2010 a new restaurant brand, Oliva, was launched, presenting a new concept of Mediterranean inspiration.

The Group opened 207 Food Retail stores, most of which (197) in Poland, under the Biedronka brand, increasing the total number of the chain's stores to 1,500. The process of integration of Feira Nova into Pingo Doce was concluded.

2011

Colombia is identified as the Group's third country for expansion.

A new stage in the internationalisation of Jerónimo Martins began, with Colombia identified as the Group's third region of expansion.

In Poland, a new business concept was launched, still at an experimental stage, in the drugstore sector: Hebe stores. Seven units of this chain opened, their offer based on cosmetics, beauty and personal care products.

The first franchised Recheio store opened in the Azores and in Tavira Recheio opened a new Food Service platform.

The first 17 Amanhecer stores opened, a business partnership between Recheio and several traditional retailers who were already its customers.

In the area of Restaurants and Services, the Group acquired the remaining 51% stake in Caterplus.