Dia has reached an agreement to sell Clarel to the Colombian group Trinity for more than 42 million euros.
According to various media specialised in the economic sector, and the company itself, the amount is not yet exact as it may vary due to various factors. Dia expects to receive a minimum of 11.5 million euros for the operation in 2024 and an additional maximum amount of 15 million euros in 2029. As explained, Dia will receive a debt receivable of almost 19 million euros, of which more than 80% will be paid in instalments and the remainder would result in estimated maximum total funds of 42.2 million euros.
This deal allows the Colombian business group Trinity to take control of approximately 1,000 Clarel outlets in Spain and three large distribution centres. The transaction is still subject to the authorisation of the Spanish Competition Authority (CNMC), although it is expected to be completed during the first half of next year.
The president of the Trinity Group, now owner of Clarel, has declared his intention to make the brand a benchmark in the Spanish market: "We want to make Clarel one of the most loved brands by Spaniards, building on what has been built to date, and creating new growth opportunities for the brand and the business. In this new stage of consolidating growth, we must focus on what we know how to do best: local food distribution", said Omar González.
Dia puts an end to the Odyssey of finding a buyer for its Clarel business that began in December last year. At the end of June, when the sale agreement was almost completed with the investment fund C2 Private Capital, it was revealed that one of the requirements of the purchase agreement had not been met. However, Dia was counting on closing the deal before the end of 2023. In this case, the transaction was valued at 60 million euros, but the CNMC did not authorise the transaction. One month later, on 31 July, Dia announced the nullity of the resulting agreement due to the non-compliance of the capital fund. Three months later, Dia closed this chapter with the sale of its more than 1010 Clarel shops, which are now owned by the Trinity group. This Colombian business group is present in four countries and has strategic investments in various industries such as steel, fertilisers, metallurgical coal, logistics, venture capital and business and adventure tourism as well as leisure and hospitality.