Romanian retailer Profi borrows EUR 40 mln to open 300 new stores

Romanian retailer Profi, controlled by the Polish investment fund Enterprise Investors, has taken a EUR 39.6 million loan from the European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank. The company plans to open at least 100 stores annually in the next three years, said Dumitru Dragomir, Profi Rom Food financial director. At the end of 2015, the retailer had 367 units under various formats and brands. The number of stores grew by 92 compared to the end of 2014. The company’s turnover reached over EUR 500 million last year. editor@romania-insider.com