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Ahold Delhaize has agreed to buy Romanian grocery retailer Profi from private equity firm MidEuropa for 1.3 billion euros ($1.37 billion), it said on Monday, in a deal that will more than double the company’s operations in Romania.
The acquisition, expected to close in 2024, will be fully funded by debt, Ahold added, and will generate “significant revenue growth and synergies”.
“This acquisition provides a strong format fit and complementary customer proposition to Ahold Delhaize’s great local brand Mega Image in the Romanian market,” Ahold said in a statement.
Profi is a leading grocery retailer in Romania and operates 1,654 stores there. Ahold Delhaize already owns the Mega Image supermarket chain in Romania, which has 969 stores mainly in urban areas.
As inflation squeezes household budgets across Europe and people seek to curb their spending on essentials, Ahold Delhaize said synergies from the deal “will directly benefit the Romanian customers”.
The acquisition, expected to close in 2024, will be fully funded by debt, Ahold added, and will generate “significant revenue growth and synergies”.
“This acquisition provides a strong format fit and complementary customer proposition to Ahold Delhaize’s great local brand Mega Image in the Romanian market,” Ahold said in a statement.
Profi is a leading grocery retailer in Romania and operates 1,654 stores there. Ahold Delhaize already owns the Mega Image supermarket chain in Romania, which has 969 stores mainly in urban areas.
As inflation squeezes household budgets across Europe and people seek to curb their spending on essentials, Ahold Delhaize said synergies from the deal “will directly benefit the Romanian customers”.
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