PLMJ and Morais Leitão advise on MO and Zippy buyout

PLMJ advised on the acquisition of two companies from the fashion division of the Sonae Group—specifically MO and Zippy— by the former management team (led by Francisco Sousa Pimentel, current CEO of MO), in partnership with the Mercúrio Fund, managed by Oxy Capital. Sonae Group was advised by Morais Leitão.

MO and Zippy—leading retailers in the fashion and accessories sector with over 120 stores in Portugal and part of their business focused on prominent international retailers—will continue to be led by their respective management teams, particularly by Sousa Pimentel.

The transaction is expected to take full effect by the end of the first half of 2025, subject to the usual conditions precedent and legal requirements, notably prior notification to the Portuguese Competition Authority and a non-opposition decision.

From PLMJ’s side, this transaction involved a multidisciplinary team, namely Duarte Schmidt Lino (pictured) partner and co-head, Filipa Martinho, senior consultant, Manuel Sequeira, coordinating associate (also part of the Insolvency and Restructuring team), Leonor Melo Bento, senior associate, and Tiago Belinha, all Corporate M&A; André Abrantes, senior consultant, and Rita Romão, senior associate, both from Banking & Finance and Capital Markets; Inês Delgado Martins, associate, and Melissa Castanho, from EU and Competition; Sofia Nogueira Leite, coordinating associate, Beatriz Paredes, senior associate, and Felipe Cunha, associate, all three from Real Estate and Tourism; Mariana Paiva, senior consultant, and André Barbieri, associate, from the Employment team; Mafalda Meireles, Intellectual Property associate; and Benedita Cunha Pinto, senior associate, and Inês Cabugueira, associate, both from Technology, Media and Telecommunications.