Spain-based discount supermarkets stores operator Distribuidora Internacional de Alimentacion (DIA) has acquired a German drugstore operator Schlecker for EUR70.5m ($90.80m).
On completion of the acqusition DIA will have over 4,000 stores in Spain and 21 warehouses, while in Portugal the network exceeds 600 stores and has four warehouses.
Distribuidora Internacional de Alimentacion believes that the integration of Schlecker into DIA contributes positively to the business plans.
DIA CEO Ricardo Currás said, "This operation shows DIA’s confidence in the development possibilities inSpain and Portugal, where, despite tough economic conditions, we see growth opportunities, strengthening our leadership position and our focus on proximity formats, adding a specialised distribution channel to our business."
Distribuidora Internacional de Alimentacion operates discount supermarket chains offering fruits, vegetables, meat, fish, processed meat, bread, bakery products, packaged food products, clothing, perfumes, shoes, household goods, electrical appliances, stationery, toys and mobile telephone top-ups.
The company operates through two retail models: DIA Market, located in urban stores, and DIA Maxi, located on the outskirts of cities.
DIA, currently, operates 6,833 stores in Spain, France, Portugal Turkey, Argentina, Brazil and China.