Romanian retailer Profi’s network is expanding rapidly, inaugurating new stores while also taking over already-existing networks. The most recent development involves acquiring 18 supermarkets in Prahova and Dambovita counties from local peer Pram Maya. This transaction was already approved by the Competition Council. CBRE assisted Maya in the transaction process.
“The acquisition is part of Profi’s integrated long-term strategy and we are thrilled that this is the most important move within our history. As per the customer’s expectations, at the beginning of next year, the new stores will be aligned within Profi standards. These new supermarkets will enter the network in the most appropriate formats for our clients from Prahova and Dambovita, bringing them closer to our interesting promotions and good-quality products”, stated Daniel Cirstea, the General Director of Profi Rom Food. Profi is the modern retail network with the widest geographical coverage within Romania. They are present in over 550 towns and villages while providing employment for over 17,500 people.
“The first Maya store was opened in 2009, in Plopeni, from the desire to have a supermarket close to people, where you can find exactly what you need at low prices. Ten years later, we are proud to have a consolidated network which attracted the attention of an international investment fund. We strongly believe that healthy businesses can be developed and sustained in Romania, as long as there is a clear vision, mission and ultimately clear objectives, regardless of industry. PRAM Group is dedicated towards the activities that have established us such as milling, bakery and pastry while developing the adjacent businesses that we have in the real estate industry, office and retail, as well as HoReCa”, said Andrei and Razvan Popescu, administrators of Maya.
“The expansion of the Maya store chain is a success story for the retail market and ultimately for the Romanian entrepreneurship environment. The 18 Maya supermarkets, with a total sales area of 3,500 square meters are located in areas with easy access, intense traffic and excellent visibility. Acquiring Maya network offers Profi the opportunity of rapid expansion on the proximity store market which has been experiencing remarkable growth in the past years, not only in the total number of stores but also in the average basket of goods. We expect that in the next 18 - 24 months, to see other similar consolidations in the retail market”, declared Carmen Ravon, Head Advisory & Transaction Services, Retail at CBRE Romania, the real estate consultancy company which advised Maya in the transaction process.
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