Ahold Delhaize Wraps Up Profi Acquisition
Ahold Delhaize has completed its acquisition of Romanian grocery retailer Profi Rom Food SRL (Profi) from MidEuropa for approximately €1.3 billion (US $1.34 billion) enterprise value. The deal doubles Ahold Delhaize’s retail footprint in Romania, where it currently operates nearly 1,000 stores under the Mega Image banner. According to Ahold Delhaize, the complementary strengths of Profi and Mega Image will bolster their ability to serve customers in both urban and rural areas, spur growth, and offer more choice and value to Romanian shoppers.
“It is truly a significant moment to welcome a new brand into our family of brands,” noted Ahold Delhaize President and CEO Frans Muller. “We are excited to have completed this transaction, marking a considerable step up in our presence in the region. The acquisition of Profi reinforces our commitment to providing customers in Romania a broad and diverse range of high-quality products and services. We look forward to creating long-term value for our customers, colleagues, partners and stakeholders.”
Added Claude Sarrailh, CEO Ahold Delhaize Europe and Indonesia: “I would like to extend the warmest welcome to the entire Profi team, in stores, offices, transportation and distribution centers, as well as its suppliers. Profi is a powerful brand, with a strong prospect for growth, offering a unique proposition to customers in Romania, with their vast network of stores and local assortment. I am very proud to add another strong brand to our European family of brands, further solidifying our position in Central and Southeastern Europe.”
“Consumers in Romania appreciate the network of stores, the quality of the product range and the shopping experience we provide,” said Profi CEO Gaetan Pacton. “This is not by chance, it is the outcome of inspired and hard work, as well as of the vision of the entire Profi team. They deserve our appreciation, since this has enabled us to achieve a top position in Romanian retail. It also makes it possible for Profi to be part of Ahold Delhaize, one of the world’s top food retailers.”
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“Mega Image is very excited that it now has a Romanian sister-company under the umbrella of Ahold Delhaize,” asserted Mega Image Brand President Mircea Moga. “The combination between our two brands will complement and expand Ahold Delhaize’s existing Romanian footprint and allow us to better serve the consumers in Romania. We are excited about the opportunities this partnership brings, through our combined cultures, expertise and resources. This alignment will allow us to serve our customers more efficiently, support our teams in their professional growth and foster sustainable business practices within our communities.”
Operating around 1,700 supermarkets and convenience stores, Timisoara-based Profi is known for its strong assortment and value for customers. In the 12 months ending June 2024, the company generated €2.7 billion (US $2.8 billion) in net sales. Ahold Delhaize anticipates that Profi will add around €3 billion (US $3.1 billion) in net sales to its financial results in 2025.
Ahold Delhaize revealed its intention to acquire Profi this past October, and the proposed transaction was approved last month by the Romanian Competition Council (RCC), subject to post-closing obligations regarding the relationships with suppliers in the Romanian retail market, in addition to the divestment of 87 stores. BofA Securities and Goldman Sachs served as financial advisors to Ahold Delhaize, while CMS Cameron McKenna Nabarro Olswang and GNP Guia Naghi & Partners served as legal advisors.
In May 2024, Ahold Delhaize said it was opening a new technology studio in Bucharest, Romania, called AD/01. The studio will hire around 250 employees in the coming years to work on innovations that will advance the customer experience across the company’s European brands.
Zaandam, Netherlands-based Ahold Delhaize banners serve 63 million customers each week, both in stores and online, in the United States, Europe and Indonesia. Together, these brands employ more than 400,000 associates in 7,716 grocery and specialty stores. Ahold Delhaize USA is part of the U.S. family of brands encompassing Food Lion, Giant Food, The Giant Co., Hannaford, and Stop & Shop. Ahold Delhaize USA is No. 11 on The PG 100, Progressive Grocer’s 2024 list of the top food and consumables retailers in North America. PG also named the company one of its Retailers of the Century and one of its 10 Most Sustainable Grocers.
