MADRID, 5 Dic. (EUROPA PRESS) -
Dia Retail, a subsidiary of the Dia group, has reached an agreement for the sale of Clarel to the Colombian group Trinity for approximately 42.2 million euros, as reported this Tuesday by the company, which has specified that this amount may vary depending on certain parameters.
Specifically, Dia will receive a minimum of 11.5 million euros for the operation, payable in 2024 and a maximum additional amount of 15 million euros in 2029.
Additionally, it will receive a debt receivable of 18.7 million (15.7 million net of cash) payable in stages (4.2 million in 2024, 12.3 million in 2027 and 2.2 million in 2029), which would result in estimated maximum total funds of 42.2 million euros.
The agreement reached with the Colombian company Trinity includes, among other assets, approximately 1,000 Clarel stores distributed throughout the country and three distribution centers.
Dia Retail will allocate the resources obtained from this sale to advance the consolidation of its growth, as the group has assured the National Securities Market Commission (CNMV).
The operation is subject to the relevant competition authorization, and it is expected that it can be completed in the first half of 2024.
"We are determined to make Clarel one of the brands most loved by Spaniards, building on what has been built to date, and providing new growth opportunities for the brand and the business," said the president of the Trinity group, Omar González.
For his part, the CEO of Dia, Martín Tolcachir, highlighted that "in this new stage of consolidation of growth", the group wants to focus "on what it does best: local food distribution."
As a consequence of this operation, Dia estimates a negative accounting impact of 9.4 million euros in its consolidated income statement for 2023.
For this operation, Dia has had the advice of Arcano Partners, Herbert Smith Freehills and Deloitte, while the Trinity group has been advised by DLA PIPER.
Last August, Dia acknowledged that it was "actively" looking for a new buyer for Clarel's more than 1,000 stores after having canceled the sale agreement with the C2 Private Capital fund worth 60 million euros.
The agreement with said investment fund "was dissolved" on July 31, after the conditions precedent to the agreement had not been met, according to the supermarket chain.
