The European Bank for Reconstruction and Development (EBRD) is providing a €25 million equity investment to Romania’s leading supermarket chain, Profi Rom Food.
This new financing follows a previous €25 million loan from the EBRD, which supported the retailer’s growth through improved competitiveness.
The latest round of financing will support a further expansion of the network, particularly into smaller towns in Romania. Profi operates 523 stores in more than 272 localities throughout the Balkan country.
Profi Rom Food has been developing a specific store format, Profi Loco, designed for rural areas.
According to EBRD's regional director for Romania and Bulgaria, Matteo Patrone, Profi plans to open hundreds of new stores in both the big and small localities of Romania, which, he says, will benefit both customers and local producers.
The private-equity firm Mid Europa Partners acquired Profi Rom Food from Polish Enterprise Fund VI in November 2016, as reported here.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine.
