After 30 years of operation, Dia To Exit Portugal

By: Trademagazin editor Date: 2023. 08. 04. 09:40

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Spanish retailer Dia Group has announced it has reached agreement with Auchan Retail over the sale of its business in Portugal, for €155 million.

In a statement, Dia said that its departure from Portugal after 30 years, where it operates the Minipreço and MaisPerto chains, will enable it to ‘concentrate on its strategic focus’ in markets where it has a stronger position.

In Portugal, Dia’s portfolio includes 489 stores, three logistics platforms, and a variety of contracts, licences, rights and concessions necessary for operating in the country.

“We have entered a growth consolidation phase and our goal is for Dia to focus on countries where it has growth potential,” commented Martín Tolcachir, global CEO of Grupo Dia. “For this, it is necessary to face the current scenario and simplify the portfolio of Grupo Dia”.

Minipreço, which Dia described as a ‘solid business’ that has ‘performed well in a complex environment’, will be integrated into the Auchan Retail store network in Portugal, boosting the latter’s presence in the proximity channel.

Dia said that it was hopeful that the transaction will be completed between the end of 2023 and the start of 2024, subject to customary closing conditions.

ESM