Spanish food retailer Dia Group is selling its Portuguese division to the French group Auchan. While the Spanish group wants to concentrate on strategic core markets, the acquirer can strengthens its presence in the South-European country.
Auchan pays 155 million euros for three distribution centres and 489 convenience stores belonging to the chains Minipreço et Mais Perto, operated by independent franchisees. Portugal earned Dia 596 million euros last year, but the company is now leaving the country as it wants to focus on markets where it can grow with its eponymous banner. 2,650 employees are involved in the acquisition.
Auchan already had 70 stores in Portugal (mainly hypermarkets), and can now add a proximity network with national coverage to that. In number of outlets, the French retailer will even become the biggest player on the Portuguese market. Southern Europe is a strategic region for Auchan: just last year, the food retailer acquired 235 Spanish supermarkets from (again) Dia.