Food retailer Ahold Delhaize, the owner of the Mega Image supermarket chain in Romania, has purchased the Profi supermarket chain from MidEuropa private equity fund, in a deal worth €1.3 billion.
Profi’s network comprises over 1,600 stores and more than 28,000 employees. Meanwhile, Mega Images includes a network of 969 stores across the country.
“This step strengthens our position in Central and Southern Europe and reaffirms our confidence in the region’s potential,” said Wouter Kolk, CEO Ahold Delhaize Europe and Indonesia.
The deal is pending regulatory approvals and is expected to be completed in 2024. If successfully carried out, it will be the most valuable transaction in Romania’s retail sector.
MidEuropa purchased Profi in 2017 and since then the retailer has added over 1,100 stores, while its sales rose 3.3 times. In the past 12 months to June 2023, the retailer recorded a turnover of more than €2.5 billion.
The seller was assisted on the deal by Citigroup Global Markets Limited (financial), White & Case and RTPR (legal), Ernst & Young (financial and tax) and Beragua (commercial).
