Romanian retail giant Annabella broadens its footprint significantly by acquiring 87 stores from Mega Image.
In a significant move for the Romanian retail sector, Annabella, the leading supermarket chain in the country, has announced its expansion following the acquisition of 82 Profi stores and 5 Mega Image stores. This deal, valued at nearly EUR 1.3 billion, marks a significant milestone for Annabella, which is owned by Dan-Constantin Mutu and Dorina Mutu.
The acquisition will see Annabella surpass 200 stores nationwide, nearly doubling its current network. The new stores will be incorporated into Annabella's three retail concepts: Annabella AZ, Annabella Zilnic, and Annabella Standard.
Annabella's growth is not limited to retail expansion. The company's group, which includes the producer Fabrica de Conserve Râureni, also reported a net profit of EUR 2.7 million in 2022, despite a 11% decrease compared to the previous year. The company's turnover for 2022 was nearly RON 176 million (EUR 35.3 million), representing a 5% decrease compared to 2021.
The acquisition of Profi and Mega Image stores is part of Annabella's strategic plan to expand its territorial footprint. The chain will now be present in major cities such as Timișoara, Oradea, Bucharest, Cluj-Napoca, Adjud, Constanța, and Ploiești, in addition to its existing presence in four counties - Vâlcea, Argeș, Olt, and Dâmbovița.
This deal is not only beneficial for Annabella but also for the Mega Image retail chain, as it aims to facilitate Mega Image's expansion. Mega Image took over Profi from MidEuropa Partners, further strengthening its position in the Romanian retail market.
Dan-Constantin Mutu, a Romanian businessman and one of the owners of Annabella, expressed his excitement about the acquisition, stating, "This is a significant step forward for Annabella. We are committed to providing our customers with the best shopping experience and look forward to welcoming our new customers to our stores."
With this acquisition, Annabella continues to solidify its position as the only Romanian chain that has reached a network of over 100 supermarkets in Romania. The company's growth and success serve as a testament to its strategic vision and commitment to the Romanian retail sector.
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