PT
Autoridade da Concorrência

Case details

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Merger control
Case reference
Ccent/2025/42 - Sete Amarelo*Oxy Capital / Modalfa*Zippy
Acquired
Modalfa – Comércio e Serviços, S.A.
Description
company operating in the wholesale and retail trade of clothing and other accessories, footwear, fashion accessories, especially for adults.
Acquiring
Oxy Capital - Sociedade Gestora de Capital de Risco, S.A.
Description
Private equity fund management company with a presence in Portugal. It controls companies active in several areas, namely production of electrical cables, telecommunications cables and automotive cables; extraction and sale of clay, kaolin and sand; production and sale of ceramic pastes; glass industry; hotel, restaurant and similar activities; and information technology services.
Acquiring
Sete Amarelo, S.A.
Description
Company active in the purchase and sale of real estate, in the management of properties on behalf of third parties, in the exercise of activities by non-financial holding companies, as well as in other business and management consultancy activities.
Acquired
Zippy – Comércio e Distribuição, S.A.
Description
Company operating in the wholesale and retail trade of clothing and other accessories, footwear, fashion accessories, especially for children and babies.
Sector
Activity (NACE)
Applicable legislation
Notification thresholds
Type of merger
Cooperation with sector regulators
Status
Closed
Type of Investigation
Phase 1
AdC’s decision
Non-opposition
Case description

The concentration operation consists of the acquisition by Sete Amarelo S.A. (“Sete Amarelo”) and Fundo Mercúrio, a Closed Venture Capital Fund managed by its management entity Oxy Capital – SGOIC, S.A. (“Oxy Capital”), of joint control of Modalfa – Comércio e Serviços, S.A. (“Modalfa”) and Zippy – Comércio e Distribuição, S.A. (“Zippy”).
Timeline
2025-06-25
AdC adopted a non-opposition decision in concentration operation 42/2025 - Sete Amarelo*Oxy Capital / Modalfa*Zippy.
2025-06-03
Sete Amarelo and Oxy Capital notify the acquisition of joint control over Modalfa and Zippy.
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