Dia Group has sold its business in Portugal to Auchan Retail for €155m. Dia's departure from Portugal, where it operates the Minipreco 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. Minipreco will be integrated into the Auchan Retail store network in Portugal, boosting the latter's presence in the proximity channel.
“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 portfolio of Grupo Dia," commented Martín Tolcachir, global CEO of Grupo Dia.
The transaction is subject to customary closing conditions but is estimated to complete by the end of 2023 and the start of 2024.
