It is expected that the operation will close between the end of this year and the beginning of 2024
Grupo Dia has reached an agreement with the Auchan group for the sale of its business in Portugal for 155 million euros, which will mean total disinvestment by the supermarket chain in the Portuguese territory, as reported to the Commission on Thursday National Stock Market (CNMV).
Specifically, the supermarket chain sells to Auchan a network of 489 owned and franchised stores active throughout the country under the banners Minipreço and MaisPerto, as well as three logistics platforms and the contracts, licences, rights and concessions necessary for the operation in the country.
"The decision to sell our business in Portugal has not been easy, but it is the right one to focus our efforts on those markets in which we are most relevant and have the capacity to grow with a single banner, Dia", assured the CEO group global Dia, Martín Tolcachir.
The Argentine executive has indicated that Dia, which is present in Spain, Argentina and Brazil after leaving Portugal, has entered a "growth consolidation phase". "Our objective is for Dia to focus on the countries where it has growth potential. To do this, it is necessary to face the current scenario and simplify the perimeter of Grupo Dia", he has justified.
At the end of 2022, the business in Portugal had a turnover of 596 million euros, which represents a slight increase of 0.5% compared to 2021, with a 3.7% increase in comparable sales.
The operation is subject to a series of suspensive conditions that the Dia Group expects to be met in the coming months, while it has highlighted that the transfer of the operation portfolio will begin as soon as these conditions are met.
In this sense, Dia has stressed that he estimates that the operation will be closed between the end of this year and the beginning of 2024, and has stated that he does not expect negative accounting impacts on his consolidated income statement derived from this operation.
LEAVES PORTUGAL AFTER 30 YEARS IN THE COUNTRY
In this way, the Dia Group leaves Portugal 30 years after starting its activity in Portugal in 1993, where it has been consolidating by offering a wide assortment of products at affordable prices and promoting a wide range of own-brand products.
The Minipreço banner has become a leading network in local food distribution. In addition, the boost that the company has given to its 'ecommerce' in recent years has made Minipreço also be chosen by consumers as their favorite 'online' store in 2023.
"I want to thank the entire Dia team in Portugal for the effort and commitment with which they have promoted the business in these 30 years. From each store, warehouse and office, their contribution has been essential to make Dia the neighborhood store loved by the neighbors it is today. We trust that this decision opens a new stage for the business in Portugal hand in hand with Auchan", Tolcachir pointed out.