Auchan to buy Dia’s Portuguese business 

Spanish retail group Dia is to sell its Portuguese business to the Auchan Group for €155 million. Dia says that it is leaving the Portuguese market in order to focus on its strategic focus, local food distribution, in the countries where it has a position that allows it to deploy its value proposition.

Martín Tolcachir, Global CEO of Grupo Dia, said: “As the results show, we have entered a growth consolidation phase and our goal is for Dia to focus on countries where it has growth potential. For this, it is necessary to face the current scenario and simplify the perimeter of Grupo Dia. 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 where we are most relevant and have the capacity to grow with a single banner, Dia.”

Grupo Dia’s business in Portugal consists of a network of 489 owned and franchised stores throughout the country under two banners (Minipreço and MaisPerto); three logistics platforms and the contracts, licences, rights and concessions necessary for the operation in the country.

Minipreço is a solid business that has performed well in a complex environment. The effort and the roadmap promoted in recent years have allowed the banner to be chosen by consumers as their favourite physical and online store for the Portuguese. At the end of 2022, the business in Portugal had a turnover of €596 million (+0.5% vs. 2021) with a 3.7% increase in comparable sales.

The Minipreço stores will be integrated into the Auchan store network in Portugal and will help the company strengthen its position in proximity at a national level thanks to the great capillarity of the brand throughout the country.

The transaction is subject to a series of conditions that are expected to be met in the coming months, with the transfer of the portfolio beginning as soon as these conditions are met. It is estimated that the operation will close between the end of 2023 and the beginning of 2024.