The Romanian arm of German discounter Lidl has signed a loan agreement of €100 million in order to open 31 new stores in the country, local publication Profit.ro has reported.
The loan agreement was made with Credit Agricole CIB, the investment division of the French group Credit Agricole.
These new stores will be EDGE-certified, which requires that the water and energy consumption of the buildings will be 20% lower than that of a standard store.
Presence In Romania
Lidl Discount Romania, a subsidiary of the German Schwarz group, originally entered the country's market in 2010 when it took over 100 Plus discount outlets from the Tengelmann Group.
The Schwarz Group also owns the Kaufland hypermarket banner, a leading chain in Romania.
In total, Lidl's Romanian branch has more than 240 stores and operates four logistics centres in the country.
It was announced at the end of 2018 that Lidl planned to add 20 new stores to its network by the end of 2019.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up to ESM: European Supermarket Magazine.
