Ahold Delhaize to Acquire Romanian Grocer Profi
Ahold Delhaize has agreed to acquire 100% of Romanian grocery retailer Profi Rom Food SRL (Profi) from private equity firm MidEuropa for 1.3 billion euros (i.e., $1.37 billion).
Ahold Delhaize says this acquisition provides a “strong format fit and complementary customer proposition” to its existing footprint in Romania, which comprises supermarket chain Mega Image, according to a media release.
Profi, operating 1,654 stores, is one of the biggest grocers in Romania behind Lidl and Carrefour. In the 12 months ending June 2023, the company generated 2.5 billion euros (or $2.6 billion) in sales, per the release.
The acquisition will more than double the size of Ahold Delhaize’s existing Romanian footprint, which consists of 969 Mega Image stores, located predominantly in urban areas. Ahold says the deal will expand its reach in both urban and rural areas across the country.
The retail giant also calls Romania an “attractive market” that is experiencing continued growth in public wealth and spending power.
The transaction is expected to close in 2024, according to Ahold.
"This step forward fortifies our position in Central and Southern Europe, [and] it also underscores our trust in the potential of the region,” Wouter Kolk, CEO of Ahold Delhaize Europe & Indonesia, said in the release. “Both Mega Image and Profi have been serving Romanian customers successfully in the past decades, which translated into increased loyalty and growth. By joining our family, the combination will benefit from our European best practices in the fields of digitalization, sourcing, extended local assortment, infrastructure and sustainability. I am excited for the journey ahead."
"I am very excited to welcome Profi into the Ahold Delhaize family,” said Frans Muller, Ahold Delhaize’s CEO. “We have followed the company’s trajectory for a while now and admire what the Profi team has been able to achieve. I strongly believe that Profi has an exciting growth pathway ahead, and look forward to partnering with the team to further solidify our presence in Central and Southern Europe."
