Spanish retailer Dia has agreed to sell its perfume store chain Clarel to Colombian investment company Grupo Trinity, having abandoned a sale of the business last August.
The sale of Clarel, which comprises about 1,000 stores in Spain and three distribution centres, will bring in €11.5 million ($12.42 million) to Dia in 2024 and a further €15 million in 2029, the company said in a statement.
However, the sale will have a €9.4 million negative impact on its accounts in Dia's next reporting period, it said.
Dia had announced the planned sale of Clarel to investment fund C2 Private Capital in December 2022, but the deal was abandoned last August.
'Focus On Local Food Distribution'
Global CEO of Grupo Dia, Martín Tolcachir stated, “Proximity is the essence of Dia and our great lever for success. In this new stage of consolidating growth, we want to focus on what we know how to do best: local food distribution.
“This will allow us to focus our efforts on the strengths of the business with the aim of being a relevant player in the markets in which Dia operates.”
President of Grupo Trinity, Omar González added, “We are proud and committed to assuming the leadership of Clarel, a brand with which more than 2.2 million customers interact. At the same time, it is a milestone for us, as it marks the entry of Grupo Trinity into the Spanish retail sector, and we do so through a leading company in its segment,”
In October of this year, the Spanish retailer reported a 4.5% increase in sales on a like-for-like basis in the first nine months of the year, to €4.64 billion.
News by Reuters, additional reporting by ESM.