Delhaize has acquired four Bucharest supermarkets operated under the Prodas Holding Supermarket banner through the Belgian retailer’s local subsidiary, Mega Image.
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“This transaction fits perfectly into Mega Image’s strategy of growing via well-located stores in urban areas. The four Prodas Holding Supermarket stores will strengthen our store network. We also expect sales opportunities and buying synergies from this acquisition,” Xavier Piesvaux, Mega Image general manager, said.
For 2008, it is estimated that the revenues of acquired stores totalled more than EUR12m (US$15.8m).
The four stores, which are 400-750 square meters in size, will be converted to Mega Image supermarkets, Delhaize confirmed.
The acquisition is subject to the customary conditions, including the approval by the Romanian antitrust authorities, and is expected to close in the third quarter of 2009.
Financial details of the transaction were not disclosed.
At the end of 2008, Mega Image’s network consisted of 40 Romanian stores, 37 in Bucharest, two in Constanta and one in Ploiesti.
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