DIA expands with €70.5mn acquisition of Schlecker in Spain, Portugal

Distribuidora Internacional de Alimentación acquired Schlecker business, a discount specialist in the household and personal care, in Spain and Portugal. The divisions acquired have a commercial network of 1,127 stores in Spain and 41 stores in Portugal, as well as four distribution centres (three in Spain and one in Portugal). In 2011, Schlecker’s net sales in Spain and Portugal reached €318 million.

The integration of Schlecker’s commercial network in DIA contributes positively to the business plans, the Spanish company explained in a press release. DIA will have over 4,000 stores in Spain and 21 warehouses, while in Portugal the network exceeds 600 stores and has four warehouses.

“This operation shows DIA’s confidence in the development possibilities in Spain and Portugal, where, despite tough economic conditions, we see growth opportunities,” said CEO Ricardo Currás.

Currás remarked that the deal would strengthen DIA's position and focus on proximity formats by “adding a specialised distribution channel.”

The acquisition is to be fully paid in cash for a maximum price of €70.5 million free of net debt. The transaction is expected to be completed before April 2013.

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