German retailer Penny invests EUR 35 mln in its fifth warehouse in Romania

German discounter Penny has kicked off construction work on the fifth warehouse in Romania, a project developed in Mihailesti (Giurgiu County, south of Bucharest) involving EUR 35 million of investments, according to Economica.net.

"Romania is an important market for us, that's why we have planned investments of over 1 billion euros until 2029, mainly by expanding the store network to a total of 619 Penny stores and 6 logistics centres. The warehouse will have 22,000 square metres," said Daniel Gross, CEO of Penny Romania.

Construction work has already begun, the logistics centre being located on a 120,000 sqm plot of land. 120 people will be employed in the new facility that will serve 70 stores by the end of 2025 and 100 stores by the end of 2027.

Penny is part of the German Rewe group, with the first store opened on the local market in 2005.

Currently, the Penny network in Romania consists of 379 stores nationwide and a team of 7,300 employees.

(Photo source: Penny)