Grupo Dia has announced the sale of its Argentine subsidiary to Dorinka, a company controlled by Grupo de Narváez, in a transaction expected to be completed on November 12, subject to conditions agreed upon by both parties.

The decision represents a structural change in the group's geographic presence. After leaving Portugal in 2024 and Brazil, Dia is preparing to operate exclusively in the Spanish market, where it maintains a network of more than 2.400 supermarkets and seeks to strengthen the competitiveness of its proximity model.

Argentina conditioned results

The Argentine operation had been facing prolonged difficulties. According to Dia, sales had accumulated a reduction of more than 20% since 2023, in a market marked by economic instability, inflation, and changes in consumer behavior.

In the 12 months ending in June, the subsidiary reported accounting losses of 54 million euros and consumed approximately 14 million euros in cash.

The sale will allow the group to eliminate this exposure and strengthen its financial capacity, at a time when it is preparing the refinancing process planned for 2027.

Spain becomes the center of growth.

Excluding Argentina, pro forma results for the 12 months ended in June indicate a 10,2% growth in net sales and an adjusted EBITDA margin of 6,9%.

According to unaudited calculations presented by the group, the net result from continuing activities would amount to 169 million euros.

The company intends to use the resources freed up by the operation to accelerate its 2025-2029 strategic plan, focused on expanding and modernizing its Spanish network. Dia is particularly committed to neighborhood supermarkets, at a time when Spanish consumers continue to prioritize convenience, accessibility, and competitive prices.

The sale of the Argentinian operation thus concludes a phase of internationalization and inaugurates a new phase in which the group's growth will depend exclusively on its performance in the Spanish market.