Global food retailer Ahold Delhaize, which already operates the Mega Image brand in Romania, announces that it has reached an agreement to buy Romania’s store chain Profi from MidEuropa, for €1.3bn pre-IFRS16 (€1.8bn post-IFRS 16).
The transaction is subject to approval by the competition authorities and is estimated to be completed in 2024.
Profi operates the most extensive store chain in terms of outlets and is the third-largest retailer in the country by turnover (RON11.7bn in 2022) after Lidl (RON18.5bn) and Kaufland (RON16.0bn). Its network counts more than 1,650 stores, distributed in four formats, and it reported a turnover of more than €2.5bn in the 12-month period ending at the end of June 2023.
Mega Image is the sixth-largest player by turnover (RON8.7bn).