German retailer invests EUR 170 mln in Romania in two years

German group Rewe, which owns the supermarket chain Penny Market, invested some EUR 170 million in Romania, in the last two years. The money went into opening new stores, remodeling the existing ones and developing the logistics centers, according to the company’s representatives. “Only in 2016 and 2017, Rewe invested EUR 170 million in Romania. The money went into 47 new stores and the development of the logistics capacity. We opened the second warehouse in Bacau and expanded the warehouses in Stefanestii de Jos and Turda. We also remodeled over 100 stores on the new future stores concept,” said Rewe Romania general manager Daniel Gross, cited by local Ziarul Financiar. The company recently announced that it finalized the reconversion of the former XXL Mega Discount stores into shopping galleries that include Penny Market supermarkets. The Penny Market network includes 220 stores, 20 of which were opened in 2017. editor@romania-insider.com