Profi wants to open 200 stores in Romania this year, exceed EUR 1 bln turnover

Local supermarket chain Profi, which is expected to exceed the turnover of EUR 1 billion this year, plans to open 200 new stores in 2016 and raise its business by 35-40%. It will fund its investment plans with some EUR 50 million, reports Ziarul Financiar. In a high-stakes game, the company opened 130 new stores last year. This represented more than half of the total number of new stores opened in Romania throughout 2016. The stakes will be even higher this year, with the company increasing its goal to 200 units. Profi was taken over by the investment fund Mid Europa Partners at the end of last year from the fund Enterprise Investors, for EUR 533 million. The new shareholder said that the supermarket chain would reach 1,000 stores. So far, no local retailer has reached this level. editor@romania-insider.com