Romanian retailer Profi wants to take over 18-store chain

Several days after announcing the development of its third logistics center in the country, Romanian retail chain Profi said it has reached an agreement to buy another 18 stores controlled by a local entrepreneur in the region of Prahova county - north of Bucharest. The deal is pending approval from the Competition Council.

Profi Rom Food, controlled by the investment fund Mid Europa Partners, continues its expansion policy on the Romanian retail market by taking over the Pram Maya chain in Prahova, announces a statement from the Competition Council, which is analyzing the transaction.

Earlier in May, Profi took over two Zanfir units in Braila county initially wanted by Mega Image, which intended to take over the entire Zanfir chain of 12 supermarkets, but failed to get the Competition Council’s approval.

Profi Rom Food, which operates supermarkets and convenience stores under the brands Profi, Profi City and Loco, is the first retail network to reach 1,000 units. In 2018, the retailer reported a net turnover of RON 5.9 billion (EUR 900 million) and losses of RON 90 million (nearly EUR 20 mln).

(Photo source: Profi)