DIA Group acquires 160 stores from Eroski for EUR146m
November 4, 2014
The stores are mainly located in the region of Madrid.
This acquisition puts DIA in second place in Madrid in terms of
sales, and bolsters its nationwide position, with a market share of
9.5%.
The DIA Group has acquired 160 stores from Eroski, mainly in region of Madrid, for a total of EUR146m to be paid in cash.
The acquired stores have an average selling area of close to 800 m2, and currently operate under the Caprabo, Eroski Center and Eroski City banners. In addition to the region of Madrid, the acquired stores are also located in Andalucía, Extremadura, Castilla León and Castilla La Mancha. The acquired store network is composed of 152 rented stores and 8 owned stores.
This acquisition reinforces DIA’s position in the Iberian market, and especially in Madrid city, where moves up from fourth to second position in terms of sales, with a market share of 9.8%, while its nationwide market share is 9.5%*.
In 2013, gross sales from these stores amounted to EUR487m. The transaction is pending approval by the competition authorities.
