What Happened to Distribuidora Internacional de Alimentación, S.A. (DIA Group)?

DIA Group, once a sprawling international discount supermarket chain, embarked on a profound transformation journey in the late 2010s and early 2020s to reverse years of financial struggles. This period was characterized by strategic divestments and a renewed focus on its core proximity store model in key markets.

A significant turning point came in 2023 and 2024 with the divestment of non-core assets. In August 2023, DIA Group sold its entire Portuguese operation, including 489 Minipreço and Mais Perto stores and three distribution centers, to Auchan for €155 million, allowing Auchan to become a major player in Portugal's convenience market. This was followed by the sale of its beauty and personal care chain, Clarel, to Trinity Group in December 2023 for an estimated maximum of €42.2 million, with initial payments in 2024. Further streamlining occurred in June 2024 when DIA exited the Brazilian market, selling its entire business there for a "symbolic price" of €100 to focus on more profitable geographies. These sales, alongside the earlier divestment of 223 large-format stores in Spain to Alcampo in 2023, marked a clear strategy to simplify the business and concentrate resources on its most promising segments: Spain and Argentina.

Financially, the transformation began to yield positive results. After several years of losses, DIA Group reported a net income of €28 million in the financial year 2024, primarily driven by strong performance in Spain. This positive trend accelerated, and the company officially returned to profit in 2025, achieving a consolidated net profit of €129 million. Spain was the main growth engine, with its branch posting a net profit of €166 million, nearly tripling its 2024 figure. Consolidated sales for 2025 reached €7,076 million, a 2.5% year-on-year increase, with adjusted EBITDA growing by 8% to €316 million. DIA Spain's gross sales grew 8.6% year-on-year, reaching €5,565 million, and its adjusted EBITDA margin expanded to 6.8%.

As of March 2026, DIA Group is in a new phase of accelerated growth and profitability, guided by its 2025-2029 Strategic Plan, titled "Growing every day," which was presented in March 2025. This plan aims to consolidate growth, enhance customer loyalty, expand the store network (with plans to open over 300 proximity stores in Spain by 2029, largely through franchisees), boost its omnichannel ecosystem, and increase online sales to 5-6% of total sales. The company also completed the refinancing of its syndicated debt in December 2024, providing an optimal financial structure for future growth. DIA Argentina, despite macroeconomic challenges and a 15% sales decline in 2025 due to currency depreciation and consumption contraction, showed resilience and stabilized sales volumes in the second half of 2025, with expectations for recovery from 2026 onwards. The market has responded positively, with DIA Group's share price experiencing a 140% revaluation in 2025, exceeding €2.1 billion in capitalization. The company also launched a new ESG Strategic Plan for 2026-2029, "The Value in Every Day," focusing on sustainability initiatives.