Profi targets 200-unit chain and neighborhood grocery niche in Romania in 2013

The chain of convenience supermarkets Profi, controlled by Polish investment fund Enterprise Investors is to open 45 more units in 2013, reaching a total of almost 200 stores, according to a statement from CEO Profi Rom Food Pawel Musial. “End of next year, we will have 45 more stores compared to the end of 2012 count”, said Musial. “We are planning to expand aggressively not only next year, but also in the years to come. Under-performing units will be shut down, but at a much slower pace”. Profi is also set on entering the neighborhood grocery store segment with two new concepts for urban and of the rural environments. The expansion plans will be fueled by Profi’s financial results, with 2012 as third consecutive year of like-for-like growth. “Unless a major event occurs, we will reach the target for this year, and the turnover will be much higher than in 2011”, according to Musial. Profi started out as a Belgian chain of discount and neighborhood stores founded in 1979. In 2006, the chain comprised 146 units in Belgium, Hungary and Romania. Profi then acquired Albinuta, a Romanian retail network, and end of 2009 it was taken over by Polish Enterprise Fund VI, a private equity fund administered by Enterprise Investors. Beginning of 2010, Profi stores in Romania separated their activity from the Belgian and Hungarian branches, and, incorporated as Profi Rom Food Srl, had opened 118 stores in Romania by May 2012. Profi serves approximately 140,000 customers and reached 3,500 employees in 2012. Profi Rom Food Srl 's turnover for 2011 was approximately EUR 222 million (RON 934 million) turnover in 2011, according to the data published on the Ministry of Finance web site. Ioana Jelea, ioana.jelea@romania-insider.com (photo source: Profi)