Ahold Delhaize announced that it has agreed to acquire 100% of Romanian grocery retailer Profi from MidEuropa, subject to approval from the regulatory authorities.
The acquisition will more than double the size of Ahold Delhaize’s existing Romanian business, which operates under the Mega Image brand and has 969 stores, predominantly in urban areas.
Ahold Delhaize will pay an Enterprise Value of approximately €1.3 billion, corresponding to lease-adjusted Enterprise Value of €1.8 billion (post IFRS 16).
Profi is a leading traditional grocery retailer in Romania, operating 1,654 stores in the country. In the twelve months ending June 2023, the company generated €2.5 billion in sales.
