Argentina Business

Spain’s DIA Seeks Buyer for Its 1,000-Store Argentina Chain

By Sofia Gabriela Martinez · July 24, 2026 · 3 min read

Business

Key Facts

—The move. DIA is seeking a buyer or partner for its Argentine operations and has hired Banco Santander to lead the process.

—The chain. DIA runs more than 1,000 stores in Argentina, mostly small proximity shops.

—The structure. About a quarter are company-owned; the rest operate as franchises.

—The owner. DIA is a Madrid-based chain controlled by LetterOne, the investment fund of Mikhail Fridman.

—The focus. After an exit, DIA would operate in just one market: Spain.

Another big retailer is eyeing the exit in Argentina. The Spanish supermarket chain DIA has put its DIA Argentina business up for sale, hiring Santander to find a buyer or partner.

Supermarket store — A supermarket aisle. (Photo: Wikimedia Commons)

One-stop reference

Company Intelligence

Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.

Browse the directory →

RT

Ask Rio Times

Latin American markets, currencies and companies.

Open the full Ask Rio Times →

DIA is one of the most recognizable supermarket brands in Argentina, built on a dense network of small, neighborhood stores. Now its Spanish parent wants out.

The company has begun looking for a buyer or strategic partner for the business and mandated Banco Santander to run the search.

A Big but Shrinking Footprint

DIA operates more than 1,000 stores across Argentina, with a strong presence in the proximity format that shoppers use for everyday top-ups.

Roughly a quarter of those are company-owned, while the rest run under franchise agreements, a structure that shapes how any sale would be put together.

The LetterOne Retreat

DIA is headquartered in Madrid and controlled by LetterOne, the fund of Russian businessman Mikhail Fridman. Argentina and Spain are now its only two markets, so an exit would leave it focused solely on its home country.

The company has declined to comment, saying it does not address market rumors or speculation.

Why It Matters

The move echoes Carrefour’s attempt to sell its Argentine business in 2025, which fell through when buyer and seller could not agree on a price.

Taken together, the two cases point to foreign retailers reassessing how much they want to keep betting on Argentina’s volatile consumer market.

Frequently Asked Questions

What is DIA doing in Argentina?

DIA is seeking a buyer or strategic partner for its Argentine operations and has hired Banco Santander to lead the process. The company has more than 1,000 stores in the country.

Who owns DIA?

DIA is a Madrid-based supermarket chain controlled by LetterOne, the investment fund of Russian businessman Mikhail Fridman. Argentina and Spain are its only two markets.

How does this compare to Carrefour?

The move mirrors Carrefour’s 2025 attempt to sell its Argentine business, which did not go through because the parties could not agree on a valuation.

Sources

Connected Coverage

Sources: DIA; Banco Santander; LetterOne.

In depth

Argentina's economy in 2026

Spain’s DIA Seeks Buyer for Its 1,000-Store Argentina Chain

Daily Brief

A Big but Shrinking Footprint

The LetterOne Retreat

Why It Matters

Frequently Asked Questions

What is DIA doing in Argentina?

Who owns DIA?

How does this compare to Carrefour?

Sources

Connected Coverage

Related Articles

A Colombian Chef Wins Argentina’s First Michelin Star for a Foreigner

IMF’s Georgieva Heads to Argentina: Reserves Yes, Fiscal Doubts

Argentina Logs a 25-Year High in Foreign Tourism

Argentina Markets: Merval & the Peso — July 24, 2026

Rotate for Best Experience

You've reached your free article limit