ABSTRACT We present new Gemini imaging and spectroscopic data of the system Arp 314, which consists of a triplet of interacting galaxies. This new imagery exhibits tidal tails and stellar bridges between the galaxies' members and confirms the past interactions. Using this data set, we have analysed the physical properties of 22 star-forming regions located in the main disc of these galaxies, as well as in the intergalactic medium. All these regions have emission lines typical of young ages and a couple of them display very high Hα luminosities (LHα ∼ 1040 erg s−1). Using the star-forming regions located in Arp 314-1, we derive its gas-phase oxygen-abundance distribution, which suggests a flatter behaviour than the distribution shown by non-interacting systems. This is in agreement with results obtained for other interacting systems and simulations. The presence of gas flows, as indicated by its complex kinematics, could explain this finding. Most of the star formation in Arp 314-2 is located in a central starburst, where double Hα profiles can be identified, as shown by archival Fabry–Perot data. Additionally, we found that the irregular galaxy Arp 314-3 has a low oxygen abundance. Considering its luminosity, this object has a primordial origin, and it was not formed during the interaction event that this system has experienced.