Enterprise Investors drives Profi to 100 stores
Profi retailer, controlled by Enterprise Investors investment
fund, operating on the discounter segment, plans to go beyond the
mark of 100 stores in Romania, from 83 at present.
Profi shareholders' decision comes at a time when competition on
the discount segment, put by ZF at 1.8bn euros, is tightening as
Lidl, one of the world's biggest players on this segment, which
acquired Plus network, is entering the market.
"We want Profi network to have over 100 stores in Romania in
December 2011," says Daniel Cîrstea, purchasing and marketing
manager with Profi, who does not rule out the opening of stores
from scratch or taking over stores from other networks.
To hit its target, Profi must rely on more aggressive expansion
than last year's and open more than 17 stores, from 15 in 2010. The
retailer is likely to invest between 17 and 25m euros in these
stores, according to ZF calculations based on the average
investment per store. Profi representatives did not disclose the
investment budget.