The World Today
MADRID, 19 (EUROPA PRESS)
Dia Group has denied rumors that the supermarket chain may be interested in expanding its presence in Argentina by acquiring Carrefour's assets for sale in the South American country.
Specifically, sources from the Spanish supermarket chain have told Europa Press that "they are not considering any inorganic growth options in Argentina at this time," as the Group's CEO, Martín Tolcachir, stated during the presentation of the first half of 2025 results to analysts.
According to Argentine press reports, Dia has emerged as one of the possible candidates to acquire the more than 680 Carrefour stores in Argentina, which the French company has reportedly put up for sale in order to focus on countries with stronger economic performance.
Along with the Spanish supermarket chain, other firms such as Coto, Grupo One, La Anónima, GDN, and the investment fund Inverlat are also listed as potential buyers.
DIA, FOCUSED ON RECOVERING BUSINESS IN ARGENTINA
In this way, Grupo Dia is focusing on recovering its business in Argentina, after closing the first half of the year with gross sales under banner (GSUB) of €825 million , 4% less than in the same half of 2024, while net sales fell by 4% and volume fell by 15.6%.
"In Argentina, the business is showing resilience and is preparing to capitalize on the expected gradual recovery in food consumption," explained Tolcachir, referring to the brand's results in the South American country.
Adjusted EBITDA contracted in the first half (-€3 million), mainly due to the investment in trading margin, partially offset by cost reductions. However, the company closed with a solid liquidity position, with €54 million in net cash at the end of the half, protecting its self-financing capacity.
The group's global CEO, in a meeting with the media, ruled out leaving Argentina and continued to support the recovery of this market. "We are not considering leaving Argentina, which is going through a very difficult macroeconomic situation," while acknowledging that they had already overcome "the toughest part."
"We have made local efforts to adapt to this new circumstance, and today we are experiencing what we understand as a stabilization of volumes, and we expect a gradual recovery in food consumption going forward," he stated, while noting that their position in Argentina is "very robust," as they have a leadership position in the city of Buenos Aires and a top-of-mind brand among Argentine consumers.
For the executive, Argentina is "very important" for the company, so they have prepared the firm to face what they hope "will truly be a phase of gradual recovery in food consumption."
