Loading tweets...
Spanish retailer Dia is exploring the possibility of selling its business in Portugal, where it operates under the Minipreco banner, according to reports in Jornal de Negocios and Inforetail.
The company currently has 499 Minipreco supermarkets in the country, 297 of which are said to be operated under franchising arrangements. Dia also owns three distribution centres in Portugal.
The retailer has hired Societe Generale as a financial advisor to study the sale of its operations in Portugal, but no final decision has yet been taken, according to reports.
In 2022, Dia earned €596 million ($634 million) in Portugal, the lowest of all the four markets in which it operates. By contrast, the retailer made €4.4 billion ($4.7 billion) in Spain, €889.5 million ($945.8 million) in Brazil and €1.3 billion ($1.4 billion) in Argentina.
The group is said to employ around 3,000 staff within its Portuguese operations.
Source: Jornal de Negocios / Inforetail
