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ZAANDAM, the Netherlands — Ahold Delhaize announced it has agreed to acquire Profi Rom Food SRL, a Romanian grocery retailer.
The deal provides Ahold Delhaize with a strong format fit and a complementary customer proposition to its Mega Image brand in the Romanian market, the company said today in announcing it had reached agreement with the seller, Bucharest, Romania-based private-equity firm MidEuropa SRL.
The acquisition consideration will be 100% debt funded, according to Ahold Delhaize, which expects the deal to secure the regulatory approval needed and to close in 2024.
“I am very excited to welcome Profi into the Ahold Delhaize family. We have followed the company’s trajectory for a while now and admire what the Profi team has been able to achieve,” Frans Muller, Ahold Delhaize’s chief executive officer, said in a statement. “I strongly believe that Profi has an exciting growth pathway ahead, and look forward to partnering with the team to further solidify our presence in Central and Southern Europe.”
Profi operates 1,654 stores in Romania, and has a reputation for providing value and a strong assortment to its customers, Ahold Delhaize said,
The acquisition will more than double the size of Ahold Delhaize’s business in Romania, where its Mega Image brand has 969 stores, mostly in urban areas.
The transaction will have no meaningful impact on ongoing capital allocation and capital return policies, nor limit balance sheet capacity to pursue further acquisition opportunities, Ahold Delhaize said in its announcement.
