Oxy Capital completed the acquisition of Zippy and Modalfa from Sonae for €20m.

Oxy Capital, a private equity investment firm, completed the acquisition of Zippy, a kids' clothing and baby care essentials company, and Modalfa, a retail company focused on clothing, from Sonae, a financial services company, for €20m. “We are very pleased with this transaction and what it represents for all parties involved. Sonae has a strong track record of successful MBOs, which reflect both the entrepreneurial spirit of our leadership and our ability to support businesses in thriving beyond the Group’s perimeter. We remain invested in our businesses for as long as we are their best possible shareholder. When better opportunities arise for the companies and their people, in line with our values, as in this case we actively pursue them. I would like to thank everyone at MO and Zippy for their deep commitment and dedication over the years, and wish them all the very best for this new chapter,” João Dolores, Sonae CFO.