Romanian retailer Annabella expands significantly by acquiring 87 stores from Mega Image
In a significant move, the Romanian retail chain Annabella has taken over 82 Profi stores and 5 Mega Image stores, marking a significant expansion of its footprint in the country. This deal will nearly double the number of stores operated by the entrepreneurial chain, surpassing 200 stores nationwide.
Annabella, the only Romanian retail chain to have reached a network of over 100 supermarkets in Romania, is on a mission to expand its territorial reach. The acquisition will see Annabella entering new cities such as Timișoara, Oradea, Bucharest, Cluj-Napoca, Adjud, Constanța, and Ploiești.
The founder of Annabella, Markus Annabella, has been instrumental in this expansion. Operating over 118 stores in four counties - Vâlcea, Argeș, Olt, and Dâmbovița - Annabella is now set to become a major player in the Romanian retail landscape.
Annabella operates three different retail concepts - Annabella AZ, Annabella Zilnic, and Annabella Standard - each catering to different consumer needs.
However, the financial performance of one of Annabella's subsidiaries, Fabrica de Conserve Râureni, showed a slight decline last year. Despite generating approximately RON 176 million (EUR 35.3 million) in turnover, the company saw a 5% decrease compared to 2023. Similarly, the net profit of EUR 2.7 million last year represented an 11% decrease compared to 2023.
It's important to note that Ahold Delhaize has completed the acquisition of Profi Rom Food for a total value of nearly EUR 1.3 billion, paving the way for Annabella's takeover of these stores.
As Annabella continues to grow, it will be interesting to see how it navigates the competitive Romanian retail market and how this expansion impacts its financial performance in the coming years.
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