Sonae is a multinational business group headquartered in Maia, Portugal. It operates in 90 countries, working in various sectors, among which retail (food, electronics, and fashion), real estate, media and telecommunications, technology investments, and financial services stand out.
It is the largest private employer in Portugal, with a total of 48,222 employees. On February 17, 2022, the company's CEO, Cláudia Azevedo, announced a restructuring of the company's image and its respective subsidiaries.
Sonae is listed on the Euronext PSI-20 in Lisbon, with the code SON.
History
Sonae was founded in 1959 by the entrepreneur, banker and patron from Arouca, Afonso Pinto de Magalhães. The business group originated from the Sociedade Nacional de Estratificados, an industrial company operating in the area of processed wood, more specifically, in the production of decorative high-pressure laminated panels.[4] During the first two decades of existence, Sonae remained as a small to medium-size business company.
Afonso Pinto de Magalhães, also the founder of the Pinto Magalhães Bank, placed Fábio Lemos in control of Sonae in the turbulent years following the Carnation Revolution. During that period, the company was nationalized and then reprivatized.
In 1982, Afonso Pinto de Magalhães gave 16% of Sonae to Belmiro de Azevedo