Ahold Delhaize has announced that its takeover of Romania's Profi Rom Food has been cleared by the country's regulatory authorities.
The Albert Heijn and Delhaize operator acquired the business from MidEuropa, and following regulatory approval, will now press ahead with closing the deal, which is planned for early 2025.
'Attractive Market'
“I am pleased with this confirmation of the regulatory authorities and we look forward to welcoming the Profi team to our family of great local brands, as of closing," commented Claude Sarrailh, CEO Ahold Delhaize Europe & Indonesia.
"Romania is an attractive market experiencing continued growth in public wealth and spending power, driven by strong economic fundamentals. Our teams are prepared for the next steps with the aim of a smooth transition for the Profi team after closing."
Profi Rom Food operates 1,751 stores across Romania, and generated €2.7 billion in sales last year. Ahold Delhaize announced its intention to acquire the business in October 2023.
Complementary Business
Ahold Delhaize said that the acquisition will bolster its existing business in Romania, where it operates 977 sores under the Mega Image banner.
'The combination will complement and expand Ahold Delhaize’s existing Romanian footprint to better serve both urban and rural areas,' the retailer said.
'The strong format fit and complementary customer propositions between the Profi and Mega Image brands, will allow them to better serve the Romanian consumer, driving both sales growth and profitability.'
In November, Ahold Delhaize announced a €1-billion share buyback programme, to run during 2025 and reiterated its outlook for the full year 2024, after third-quarter results beat expectations.
