Distribuidora Internacional de Alimentación, S.A. agreed to acquire 160 supermarkets operating under commercial names of Eroski Center, Eroski City and Caprabo from Cecosa Supermercados Sociedad Limitada, Supermercados Picabo Sl and Caprabo, S.A. for approximately €150 million.
November 03, 2014 at 11:00 pm EST
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Distribuidora Internacional de Alimentación, S.A. (CATS:DIA) agreed to acquire 160 supermarkets operating under commercial names of Eroski Center, Eroski City and Caprabo from Cecosa Supermercados Sociedad Limitada, Supermercados Picabo Sl and Caprabo, S.A. for approximately €150 million in cash on November 4, 2014. The purchase price is subject to potential adjustments according to the number of supermarkets ultimately acquired. In 2013, gross sales from these stores amounted to €487 million. The transaction is pending approval by the competition authorities.
As of April 9, 2015, the transaction was approved by the Spanish National Markets and Competition Commission subject only to the acceptance by DIA of certain undertakings, previously proposed by DIA, concerning the divestment of 3 shops, 2 of them owned by entities of Eroski S. Coop. and 1 owned by DIA. As of April 17, 2015, the transaction terms were changed and DIA will now acquire 144 supermarkets for a price of €135.3 million. The acquisition of the supermarkets subject matter of the transaction will be carried out gradually over the next four 4 months. KPMG acted as financial advisor to Distribuidora Internacional de Alimentación.
Distribuidora Internacional de Alimentacion SA (DIA SA) is a Spain-based company primarily engaged in the operation of supermarket chains. The Company's scope of activities revolves around retail sale of food products through owned or franchised self-service stores operating under the DIA brand name. Its brand names range include DIA Market, Fresh by DIA, DIA Maxi, La Plaza de DIA, Max Descuento, Clarel, el Arbol, Cada DIA, among others. What is more, the Company retails personal care, health and household products, as well as wholesales furniture and related equipment to hospitality, catering and food industry. The Company operates in a number of countries, such as Spain, Brazil, and Argentina.
Distribuidora Internacional de Alimentación, S.A. agreed to acquire 160 supermarkets operating under commercial names of Eroski Center, Eroski City and Caprabo from Cecosa Supermercados Sociedad Limitada, Supermercados Picabo Sl and Caprabo, S.A. for approximately €150 million.
DISTRIBUIDORA INTERNACIONAL DE ALIMENTACIÓN, S.A. 
