Morais Leitão advises Sonae on MO and Zippy sale
Morais Leitão advised Sonae on the sale of its fashion brands MO and Zippy to a management-led consortium, in a deal structured as a management buy-out. The buyer is a consortium composed of Francisco Sousa Pimentel, current CEO of MO, and the Mercúrio Fund, managed by Oxy Capital.
Following the transaction, and in line with the characteristics of a management buy-out, the current management team will remain in place. The operation represents proceeds of approximately 20 million euros for the Sonae group. Its full completion, expected to occur by the end of the first half of 2025, is subject to the fulfillment of conditions precedent and legal requirements, including prior notification to the Competition Authority and the issuance of a non-opposition decision.
MO and Zippy
MO and Zippy are fashion brands founded by the Sonae group, with strong development paths within the company since 1995 and 2004, respectively. They currently hold leading positions in their segments in Portugal and have a significant international presence.
MO is a fashion and accessories retailer for the whole family, operating more than 120 stores in Portugal, and has a business line dedicated to managing the textile category for international retailers. Zippy specializes in children’s fashion and is present in over 40 countries with both own stores and franchising.
The multidisciplinary Morais Leitão team advising on the deal was led by partner Fábio Castro Russo and principal associate Clara Almeida (both pictured), with the support of Jorge Simões Cortez (corporate and commercial), Maria Soares do Lago, Pedro Gorjão-Henriques and Carolina Soares de Sousa (banking and finance), and Joaquim Vieira Peres and Gonçalo Rosas (competition).
