Dia sells 235 supermarkets to Alcampo for 267 million euros

The Dia Group continues to be immersed in the implementation of its strategic plan with which it wants to give a change of direction to its strategy in Spain. In this context, it informed the market on Tuesday that together with its subsidiaries Dia Retail España and Grupo El Árbol, it had signed an agreement with Auchan Retail (owner of Alcampo) to sell up to 235 supermarkets, located mainly in Castilla y León, Madrid, Aragón, Galicia and Asturias, two logistics warehouses located in Villanubla (Valladolid) and certain contracts, licenses and assets, as well as the transfer of employees related to said establishments and warehouses.

According to the information sent to the CNMV, the maximum price of the operation will allow the Dia Group to obtain up to 267 million euros in cash, provided that all the conditions precedent and other clauses provided for in the contract are fulfilled within circumstances allowing the full performance of the contract scope of the operation.

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For Alcampo, this represents an opportunity to increase its presence in Spain

A cash that the group chaired by Stephan DuCharme will allocate to one of the main objectives of its strategic plan, such as the remodeling of the convenience stores of its current network, in addition to the acceleration of new openings within this same format. “At Dia España, we focus on a single convenience format and a unified store model. This operation allows us to move forward more quickly with the objective of completing the remodeling of our current network and accelerating the pace of store openings, generating opportunities for all our employees, franchisees and suppliers, allowing us to be even closer to our customers,” Dia España CEO Ricardo Álvarez explained in a statement.

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The establishments offered in Alcampo are large-format supermarkets, over 750 square meters, with attractive locations but outside the proximity and proximity environment in the neighborhoods in which Dia wants to focus to compete with its most direct competitors , such as Mercadona, Carrefour and Lidl.

For Alcampo, this network of points of sale represents an opportunity to increase its presence in Spain and to be able to consider competing with the large local networks of the country’s leading retailers. “With this operation, Auchan Retail significantly strengthens its presence in a strategic country for the brand, with the ambition of accelerating its growth in Spain”, assured the Chairman and CEO of Auchan Retail, Yves Claude.

The figures

The operation concerns 3,600 Dia employees who would join the workforce of Alcampo

The operation, which is still awaiting the approval of the competition authorities and could be finalized in mid-2023, concerns 3,600 Dia employees who would join the workforce of Alcampo. CC.OO. He assured that they understood the “business logic of resizing Dia”, but warned that he would demand guarantees for the maintenance of jobs and working conditions for all workers.

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