Private equity fund MidEuropa entered an agreement to sell Profi Rom Food, one of the most extensive food retailers in Romania, to Dutch grocery retail company Ahold Delhaize - which also includes the Mega Image chain - for 1.3 billion euros, the fund announced on Monday.Profi's sale to Ahold Delhaize represents the largest deal in the food store segment in continental Europe involving a private equity fund, and also the largest transaction so far in the food segment in Central and Eastern Europe, but is conditional on the approvals from the regulatory bodies and is expected to be completed in 2024.After its acquisition by MidEuropa in 2017, Profi became the most extensive supermarket chain in Romania (by number of stores) and one of the fastest growing retailers on the local market, adding more than 1,100 stores and increasing sales more than 3.3 times.Profi is an important proximity food retailer that runs a network of over 1,650 stores throughout Romania, in over 800 urban and rural locations, supported by six distribution centers. Profi has over 28,000 employees throughout the country and generated revenues of over 2.5 billion euros in the 12-month period ending in June 2023.
“It is always a good time to invest in ourselves. Inner clarity becomes outer confidence. What we cultivate within becomes the energy we carry into the room”, says Diana Iosu, as she creates DiFine your Essence, a new personal, professional and spiritual development event. After two decades in A-list corporations, Diana Iosu has chosen the […]
Romanian presidential candidates George Simion and Nicuşor Dan presented contrasting visions for the future government in the run-up to the decisive second electoral round, News.ro reported on May 8. While Simion called...
World-renowned astronauts Yi So-yeon and Daniel Michio Tani will attend the third edition of SpaceFEST, an event organized by Bucharest’s Politehnica University dedicated to the importance of spatial exploration, and potential jobs in the domain. SpaceFEST, which takes place from Friday, May 9, to Sunday, May 11, on the Politehnica campus, is organized by Politehnica, […]
Chinese bamboo products manufacturer Long Bamboo Technology Group Co., a supplier to Swedish retailer IKEA, has entered the Romanian market to establish a furniture production facility, Profit.ro reported on May 8. The company, headquartered in Hong Kong and with manufacturing...
The Mangalia shipyard in Romania is resuming operations gradually following its entry into insolvency in 2024 after Dutch shipbuilding group Damen withdrew from the joint venture. The shipyard's management has introduced measures to stabilize finances and revive activity, with employee salaries to be paid in phased installments,
The Belgian manufacturer of metal roofing systems Metigla, with a factory in Ceptura, Prahova County, announced a EUR 15 million investment plan in expanding production, automation, and employees. "In 2025, we will consolidate our presence in key markets and gradually expand this model to more European countries. We invest in sustainable products, automation, teams, and […]
