Ahold Delhaize, the parent company of supermarket group Albert Heijn, is buying Romanian supermarket chain Profi Rom Food for €1.3 billion.
The deal doubles the size of Ahold Delhaize’s presence in Romania – it was already active with the Mega Image brand which has some 969 stores, mainly in urban areas.
“Romania is an attractive market experiencing continued growth in public wealth and spending power, driven by strong economic fundamentals,” Ahold Delhaize said in a statement.
The sale includes 1,654 Profi stores which are primarily outside urban centres. The chain, which booked turnover of €2.5 billion in the 12 months to June, is known for its sharp pricing structure and wide assortment of goods, Ahold Delhaize said.
The deal still has to be approved by Profi shareholders.