Annual Report 2025

25. Group subsidiaries

Group control is ensured by the parent Company, Jerónimo Martins, SGPS, S.A..

The tables below list the subsidiaries of Jerónimo Martins Group, fully consolidated.

Group subsidiaries

Company

 

Business area

 

Head Office

 

% Owned

Jerónimo Martins, SGPS, S.A.

 

Business portfolio management

 

Lisbon

 

Jerónimo Martins – Serviços, S.A.

 

Human resources top management

 

Lisbon

 

100.00

New World Investments B.V.

 

Business portfolio management and financial services

 

Amsterdam
(The Netherlands)

 

100.00

Origins – Agro Business Investments B.V.

 

Business portfolio management and financial services

 

Amsterdam
(The Netherlands)

 

100.00

Tagus – Retail & Services Investments B.V.

 

Business portfolio management and financial services

 

Amsterdam
(The Netherlands)

 

100.00

Warta – Retail & Services Investments B.V.

 

Business portfolio management and financial services

 

Amsterdam
(The Netherlands)

 

100.00

Desimo, Lda.

 

Real estate management and administration and trademarks

 

Lisbon

 

100.00

Jerónimo Martins Inovação, S.A.

 

Other business and management consultancy activities

 

Lisbon

 

100.00

Larantigo – Sociedade de Construções, S.A.

 

Real estate purchase and sale

 

Lisbon

 

100.00

Santa Maria Manuela Turismo, S.A.

 

Sea passenger water transport

 

Lisbon

 

100.00

Trade Wings, S.A.

 

Renting of air transport equipment

 

Lisbon

 

100.00

Jerónimo Martins – Restauração e Serviços, S.A.

 

Coffee shops

 

Lisbon

 

100.00

Hussel Ibéria – Chocolates e Confeitaria, S.A.

 

Retail sale of chocolates, confectionery and similar products

 

Lisbon

 

100.00

Jeronimo Martins Colombia S.A.S.

 

Trading and distribution of consumer goods

 

Bogotá
(Colombia)

 

100.00

Jerónimo Martins – Agro-Alimentar, S.A.

 

Other business support service activities

 

Lisbon

 

100.00

Best-Farmer – Actividades Agro-Pecuárias, S.A.

 

Growing of crops and animal farming

 

Lisbon

 

100.00

Terra Alegre Lacticínios, S.A.

 

Manufacture of milk and dairy products

 

Portalegre

 

100.00

Seaculture – Aquicultura, S.A.

 

Saline brackish waters aquaculture

 

Lisbon

 

100.00

Outro Chão – Agricultura Biológica, Lda.

 

Wholesale of fruit and vegetables

 

Lisbon

 

100.00

Mediterranean Aquafarm S.A.

 

Saline brackish waters aquaculture

 

Saidia
(Morocco)

 

66.68

Ovinos da Tapada – Agropecuária, Lda

 

Animal farming

 

Fundão

 

100.00

Supreme Fruits, Lda.

 

Growing of citrus fruits

 

Beja

 

100.00

Tastyfruits, Lda.

 

Farming of crops

 

Lisboa

 

100.00

JMR – Gestão de Empresas de Retalho, SGPS, S.A.

 

Business portfolio management in the area of retail distribution

 

Lisbon

 

51.00

JMR – Prestação de Serviços para a Distribuição, S.A.

 

Retail management, consultancy and logistics

 

Lisbon

 

51.00

Pingo Doce – Distribuição Alimentar, S.A.

 

Retail sales in supermarkets

 

Lisbon

 

51.00

Imoretalho – Gestão de Imóveis, S.A.

 

Real estate management and administration

 

Lisbon

 

51.00

Escola de Formação Jerónimo Martins, S.A.

 

Training

 

Lisbon

 

51.00

Lido Sol II – Distribuição de Produtos Alimentares, S.A.

 

Retail sales in supermarkets

 

Funchal

 

51.00

Lidinvest – Gestão de Imóveis, S.A.

 

Real estate management and administration

 

Funchal

 

51.00

Recheio, SGPS, S.A.

 

Business portfolio management in wholesale and retail distribution

 

Lisbon

 

100.00

Recheio – Cash & Carry, S.A.

 

Wholesale of food and consumer goods

 

Lisbon

 

100.00

Imocash – Imobiliário de Distribuição, S.A.

 

Real estate management and administration

 

Lisbon

 

100.00

Recheio Masterchef, Lda.

 

Wholesale of other food products

 

Lisbon

 

100.00

João Gomes Camacho, S.A.

 

Wholesale of food and consumer goods

 

Funchal

 

100.00

Jeronimo Martins Polska S.A.

 

Retail and wholesale of food and consumer goods

 

Kostrzyn
(Poland)

 

100.00

JM Nieruchomości Bis sp. z o.o.

 

Real estate management and administration

 

Kostrzyn
(Poland)

 

100.00

Jeronimo Martins Slovensko, s. r. o.

 

Retail sale of food and consumer goods

 

Bratislava
(Slovakia)

 

100.00

Jeronimo Martins Drogerie i Farmacja Sp. z o.o.

 

Retail sale of health and beauty products

 

Kostrzyn
(Poland)

 

100.00

Hebe Česko s.r.o.

 

Retail sale of health and beauty products

 

Prague
(Czechia)

 

100.00

Hebe Slovensko, s. r. o.

 

Retail sale of health and beauty products

 

Bratislava
(Slovakia)

 

100.00

In June 2025, through its subsidiary JMA, 50% of the share capital of the company Tastyfruits, Lda. (Tastyfruits) was acquired, the Group now owns 100% of the company. As a result, Tastyfruits is now fully consolidated in the Group’s Financial Statements (previously classified as a joint venture and consolidated using the equity method), without materially relevant impacts.

In December 2025, through its subsidiary JMA, 20% of the share capital of the company Supreme Fruits, Lda. (Supreme Fruits), was acquired, the Group now owns 100% of the company.

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