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Spanish supermarket chain DIA exits Argentina with $53.8 million sale - Finance news and analysis from Global Banking & Finance Review
Finance

Spanish supermarket chain DIA exits Argentina with $53.8 million sale

Published by Global Banking & Finance Review

Posted on November 5, 2026

2 min read

· Last updated: November 5, 2026

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DIA Finalizes $53.8 Million Sale, Marking Full Exit from Argentine Market

DIA's Strategic Withdrawal from Argentina

By Mireia Merino

Details of the Sale

Nov 5 (Reuters) - Spanish supermarket chain DIA said on Thursday it was selling its Argentine business to local retailer Dorinka for $53.8 million, exiting a market that has weighed on the company's earnings in a sustained period of economic turbulence.

Challenges in the Argentine Market

DIA had repeatedly reaffirmed its commitment to the Latin America country, but also struggled with years of economic volatility, currency depreciation and weak consumer demand, making the business increasingly difficult to sustain.

Key Points of the Transaction
  • The deal is the final step in DIA's years-long retreat from Latin America following its exit from Brazil, allowing the retailer to focus on Spain, its most profitable market
  • "We enter in a new phase of growth fully focused on Spain," CEO Martin Tolcachir said in a statement
  • Argentine supermarket sales have fallen more than 20% since 2023, with the unit posting a €54 million ($60.67 million)accounting loss in the 12 months to June 2026
  • DIA expects the deal to have a one-off impact of about €100 million, while securing $53.8 million in cash upon closing and with funds to be reinvested to accelerate expansion in Spain
  • The company was not immediately available to respond to a Reuters request for comment
  • The deal is expected to close on November 12

Financial Context

($1 = 0.8901 euros)

(Reporting by Mireia Merino; Editing by Susan Fenton)

Key Takeaways

  • DIA exits Argentina, completing its retreat from Latin America after prior exits from Brazil and Portugal.
  • The Argentine unit posted heavy losses—over €54 million in the year to June 2026—amid steep consumption declines, currency depreciation, and store closures.
  • The $53.8 million proceeds, plus a one‑off €100 million impact, will be reinvested to accelerate DIA’s expansion in Spain.

Frequently Asked Questions

Why did DIA sell its Argentine business?
DIA sold its Argentine operations due to years of economic volatility, currency depreciation, and weak consumer demand making the market unsustainable.
Who bought DIA's business in Argentina?
DIA's Argentine business was purchased by local retailer Dorinka for $53.8 million.
What will DIA do with the proceeds from the sale?
DIA plans to reinvest the $53.8 million proceeds to accelerate its expansion in Spain, focusing on its most profitable market.
When is the DIA and Dorinka deal expected to close?
The deal is expected to close on November 12.
How much loss did DIA’s Argentine unit report in the past year?
DIA’s Argentine unit posted an accounting loss of €54 million in the 12 months to June 2026.

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