Retailer Mega Image to take over 20 Angst supermarkets in Romania

Mega Image, one of the fastest expanding retailers in Romania in recent years, agreed to take over the Angst supermarket network. The transaction is currently under review at Romania’s Competition Council. The 20 Angst supermarkets cover areas that vary from 90 sqm to 750 sqm and generate annual sales of about EUR 21 million. “This takeover fits with Mega Image’s development strategy, with stores that have a good urban positioning. The 20 Angst shops will consolidate our network,” said Xavier Piesvaux, general manager of Mega Image Romania. Mega Image reached 326 locations at the end of July 2014, which include 173 Mega Image supermarkets and 151 Shop&Go proximity shops. Mega Image is part of Belgian group Delhaize and is present on the Romanian market since 1995. The company started its strong expansion in 2008, by acquiring 14 La Fourmi supermarkets for EUR 18.6 million. In 2011, Mega Image also took over three G’Market shops. The Angst takeover is the third important transaction for Mega Image. The company increased sales by 34% last year, to EUR 530 million, and made a net profit of EUR 12.5 million. The Angst meat and supermarket business is controlled by Swiss family Angst and Romanian entrepreneur Sorin Minea. The Angst supermarkets were operated by French group Carrefour from September 2011 until May 2014, when the shareholders decided to pull out the Angst supermarkets from the Carrefour Express franchise. The decision to sell to Mega Image comes as Angst wants to focus on its main expertise segment, which is meat processing. Andrei Chirileasa, andrei@romania-insider.com