Profi retail chain to expand in Romania

2010-03-09

The investment fund Enterprise Investors, having acquired the Profi grocery retail chain in Romania last year, plans to expand the network by at least ten new stores in 2010. These plans are estimated to require an investment of €10m. The company relies more on its proximity supermarket concept than it does on the discounter format, according to Enterprise Investor representatives. The expansion of the Profi retail chain is expected to create 300 jobs this year.
Profi expected sales in 2009 to amount to RON 600m (€140m), an increase of 36% over 2008 figures. In terms of sales revenues, these figures make Profi the third-largest discount retailer in Romania, after Penny Market and Plus.
The €66m acquisition of the Profi chain was the largest transaction in the Romanian retail sector last year. As per information accurate at the end of 2009, Profi had 65 stores, ten of which are located in Bucharest.