DIA reaches an agreement to acquire EL ÁRBOL supermarket chain
July 2, 2014
The agreement includes the purchase of El Árbol shares for one euro.
The closing of the operation is subject to clearance by the competition authorities.
DIA Group has reached an agreement to purchase 100% of the equity stake of the share capital of Grupo El Árbol.
The shares of El Árbol have been valued at one euro. In turn, DIA acquires the existing participative loan with the payment of a fixed price of EUR26m and a variable price linked to the performance of certain financial figures amounting to a maximum of EUR25.8m. In addition, there is a maximum estimated financial debt of EUR99m.
Additionally, DIA has agreed to concede a financing line to El Árbol of EUR7.5m. to ensure that
the company can operate normally.
Currently, Grupo El Árbol has 455 commercial stores (425 proximity supermarkets) mainly in the regions of Asturias, Castile – Leon, Aragon, Estremadura and Galicia. In 2013, its net sales amounted to EUR822m. The company maintains the historical commitment of Grupo El Árbol with Castile – Leon where the headquarters are based (Valladolid), as well as in others regions. DIA, which will keep the El Árbol banner, consolidates this way its focus on proximity acquisitions and the development of its fresh products range
