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.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
