A Punchy €50 Billion Sales Goal Gets J. Martins Mulling Over M&A

The Portuguese retailer Jeronimo Martins, which made its last major acquisition almost two decades ago, may have to shift to a more aggressive strategy in order to boost sales by 50% within five years.

A target of €50 billion ($58 billion) in revenue by 2029 or 2030 has kickstarted internal discussions since it was first announced by Chairman Pedro Soares dos Santos in March. While Soares dos Santos — whose family controls the business — said the company is working on a plan to hit that goal, he hasn’t publicly explained what it might look like.