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SPAR network brings Cuc brothers 45m-euro sales

SPAR network brings Cuc brothers 45m-euro sales
08.04.2009, 15:05 8
SPAR supermarket chain posted sales worth 166 million RON (45 million euros) last year, up 30% on 2007, amid an expansion from 14 to 21 units in this period, according to data provided by representatives of the retailer. They did not specify if the company stepped into the black last year, after SPAR reported an around 3.2 million-euro loss in 2007. Dutch network SPAR is operated on the Romanian market by Arad-based FMCG distributor Astral Impex, held by siblings Adrian and Floare Cuc. They invested over 20 million euros in overall sum in expanding the SPAR Romania network to 21 stores. Astral Impex currently operates 20 SPAR supermarkets, after at the beginning of this year, the shareholders decided to close the hypermarket in Targu-Mures, and operate only on the supermarket segment. The 3,000 square-metre Targu-Mures store entailed 3.6 million-euro investments, and was opened in December 2006.

 

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