Supermarket chain Mega Image buys competitor G'Market in Romania

Retailer Delhaize, which owns the Mega Image chain of supermarkets in Romania, has acquired the three G'Market stores in the country, from Turkish Anchor Group. The deal is pending the ok from the Competition Council and its value was not disclosed.

G'Market runs stores in Plaza Romania, Bucuresti Mall, both shopping centers owned by the same Anchor Group, and a street location in Colentina, east of Bucharest, on some 6,400 sqm of retail space in total. After the deal will be approved, the G'Market stores will be reorganized based on the Mega Image concept, said Xavier Piesvaux, general manager of Mega Image. This way, Mega Image will enter two of the shopping malls in Bucharest. Mega Image, which runs 94 stores in Romania, plans to invest EUR 50 million this year in a warehouse and 23 stores, mostly in Bucharest and nearby areas. The Mega Image chain posted revenues of 212 million last year, up from EUR 146 million the year before, according to data from the Finance Ministry. It re-became profitable last year, with a profit of EUR 0.53 million, compared to a loss of EUR 3.3 million in 2009. G'Market had sales of EUR 19.4 million last year and a loss of EUR 8.7 million. Read our recent article about the sales evolution of both chains. Corina Saceanu, corina@romania-insider.com (photo source: Mega Image)