Spanish supermarket chain Mercadona plans to invest €203 million in acquiring land and buildings for new stores in Spain and Portugal, primarily focusing on Portugal’s high-growth potential.

This €203 million commitment, the highest in six years, is earmarked for acquisitions over the next six years, with €20 million planned for 2025, according to the consolidated accounts filed with the Commercial Registry, reported Spanish daily Cinco Dias.

The reported figures exclude renovation costs connected to the construction of the new sales outlets. An additional €24.3 million has been committed for purchases this year.

Mercadona invested €419 million in its store network during 2024 – a decrease from €650 million in 2023.

By year-end, its store network comprised around 1,674 outlets, including 60 in Portugal. The 2024 investment covered €281 million for new store openings, €104 million for renovations, and €34 million for sales model enhancements.

Commercial Network

Mercadona’s total investment in its commercial network over the past several years nears €5 billion, which is roughly the accumulated net profit of €5.14 billion during the same period.

In 2024, for the first time, the company closed more stores (49) than it opened (42) in Spain, resulting in a net decrease of 18 stores, ending the year with 1,614 locations in the country.

In neighbouring Portugal, Mercadona opened 11 stores in 2024, reaching 60 locations, with plans to open another dozen in 2025 with a €220 million investment, including its first two stores in Lisbon.

Mercadona’s accumulated investment in Portugal totals €1.09 billion, generating €1.78 billion in revenue and a €30 million net profit in 2024.

The company aims to double its Portuguese profit in 2025. Despite its relatively small footprint, Mercadona holds a 7% market share, making it Portugal’s fourth-largest supermarket operator.

Mercadona is aiming for further growth in Portugal, particularly in the south, supported by a new €287 million logistics centre in Almeirim.

Company president Juan Roig Alfonso highlighted the need to increase local sourcing in Portugal to better integrate into the market. Expansion into a third country is not currently on the agenda.

Having reached saturation in Spain, Mercadona is shifting its focus from expansion to renovating existing stores with its Store 8 model.

This involves both refurbishments and replacing older, smaller stores with larger, more modern locations offering additional services like ready-to-eat areas and parking.