Spanish Supermarket Chain Dia Sells Its Network Of Almost 500 Stores in Portugal To Auchan

Grupo Dia has reached an agreement with the Auchan group for the sale of its business in Portugal for €155 million.

As reported to the National Securities Market Commission (CNMV), this Thursday, August 3, the deal means a total disinvestment by the Spanish supermarket chain in the Portuguese territory.

Specifically, the supermarket chain has sold to the French company its whole network of 489 owned and franchised stores. They were marketed throughout Portugal under the banners Minipreço and MaisPerto.

There were also three logistics platforms and the contracts, licences, rights and concessions necessary for the operation in the country.

The decision to sell was not an easy one

Martín Tolcachir, the Dia group’s global director said of the deal: ‘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 of Dia’.

The Argentine manager indicated that Dia, which after leaving Portugal is still present in Spain, Argentina and Brazil, 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’.

At the end of 2022, the business in Portugal had a turnover of €596 million, which represented a slight increase of 0.5 per cent compared to 2021, with a 3.7 per cent 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. Meanwhile, it highlighted that the transfer of the operation portfolio will begin as soon as these conditions are met.

Tolcachir stressed that he estimated the operation would be closed between the end of this year and the beginning of 2024. He stated that he does not expect negative accounting impacts on the consolidated income statement derived from this operation.

Dia started out in Portugal in 1993

The Dia Group will leave Portugal 30 years after starting its activity back in 1993. It has consolidated by offering a wide assortment of products at affordable prices while promoting a wide range of own-brand products.

Minipreço has become a leading network in local food distribution. In addition, the boost that the company has given to its ‘e-commerce’ in recent years has seen Minipreço chosen by consumers as their favourite ‘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’, Tolcachir pointed out.

He added: ‘From each store, warehouse and office, their contribution has been essential to making Dia the neighbourhood store loved the way it is today. We trust that this decision opens a new stage for the business in Portugal, hand in hand with Auchan’.