Dia Retail, a subsidiary of the Dia Group, has reached an agreement with the Trinity Group for the sale and purchase of the Clarel chain of health and beauty shops, as well as the company that operates the business. The price has been set at around 42.2 million euros, an amount that could vary. The closing of the transaction will In any case be confirmed during the first quarter of 2024, when it is expected to receive authorisation from the Spanish National Markets and Competition Commission.

The Colombian group will pay 11.5 million euros in 2024 and another 15 million euros by 2029 at the latest. In addition, Dia Retail will charge a receivable of 18.7 million euros, corresponding to a net cash amount of 15.7 million euros. That figure will be split across payments of 4.2 million euros in 2024, 12.3 million euros in 2027 and 2.2 million euros in 2029.

1,000 shops and 3,300 employees
Trinity takes over a beauty, personal care and home business that is currently performing well. It includes around 1,000 shops throughout Spain, as well as three distribution centres and other assets. It employs around 3,300 people. For Dia, the sale is explained in its current strategy, focused on the local food distribution business through which it came into being over forty years ago.

In a video posted on Trinity Group's LinkedIn profile, its CEO, Ivan Trujillo, explained the transaction as “the result of the strategic vision of our Chairman, Omar Gonzalez, and our interest in entering the Spanish market through a leading company with which we can continue to build and add value for all our stakeholders”.

A new Clarel
In a shared statement with Dia, Gonzalez himself explained, “We are determined to make Clarel one of the brands best loved by Spaniards, building on what has been built so far, and creating new growth opportunities for the brand and the business”. In addition, in statements to the Efe news agency, the group's Chairman affirmed that he will maintain the brand, the shops and employment in order to build a new Clarel from the existing structure.

In Dia's statement, Gonzalez also stated, “We are proud and committed to take over 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 Trinity Group's entry into the Spanish retail sector, and we are doing so through a company that is leading its segment”.

As the Colombian group explained on its LinkedIn profile, its entry into the Spanish retail sector is making a splash with it becoming “Colombia's largest business investor in Spain”.

^{Photo: Dia Group}