Portuguese retail group Jerónimo Martins is allegedly interested in Romania’s leading supermarket chain Profi, according to both Romanian and Polish press reports.
With 400 stores, Profi has an annual turnover of €565 million in a market with 20 million inhabitants. It is being put up for sale by Polish capital risk manager Entreprise Investors that, via the PEV VI fund, owns 100% since 2010.
When contacted by Portuguese daily “Jornal de Negocios”, JM sources said that "the group does not comment on potential M&A transactions”.
Also in the race, according to the same sources, are investment funds managed by CC, as well as other ones from Turkey and the Baltic countries.
For its part, Portuguese investment bank BPI believes that JM could expand its activities to other markets, but at this stage this may seem “too ambitious”. The banks analysts believe that priority should be given to the Colombian market, where the retailer is present with the Ara supermarket chain.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.