Original disclosure @ IFC website
Updated in EWS Oct 15, 2021
Disclosed by Bank Mar 30, 2021
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The proposed investment would allow the company to (i) further expand its reach in the country by opening 800 new stores by 2027 including the acquisition of existing stores and greenfield developments; and (ii) partially refinancing its existing debt during the next three-year period. The investment will address some of the country's developmental challenges by increasing access to quality and affordable goods across the country and providing better access to modern retail in rural areas of Romania.
The investment consists of an A loan of up to €50 million to Profi Rom Food S.R.L. (“Profi” or the “company”), the largest food retailer in Romania based on the number of stores. Profi is owned by Mid Europa Partners (the “sponsor”), a private equity firm. The proposed investment would allow the company to (i) further expand its reach in the country by opening 800 new stores by 2027 including acquisition of existing stores and greenfield developments; and (ii) partially refinancing its existing debt during the next three-year period (the “project”).
Profi (https://www.profi.ro/) was established in 1979 in Romania, and has a presence in all 41 counties of the country supplying groceries, fruits, vegetables and related household products. As of March 2021, the company has 1,404 stores in 4 formats:
- Profi Supermarket (avg. sales area 400 m2);
- Profi City (avg. sales area 220 m2);
- Profi Loco in rural areas (avg. sales area 220 m2); and
- Profi Mini (avg. sales area 121 m2).
The company sources and carries its own inventory of over 5,400 products and over 1,800 brands. For this purpose, the company has distribution centers (DCs) in 5 major counties of Romania i.e. Cluj, Prahova, Giurgiu, Neamt and Timis. A typical DC has an area of around 40,000 m2, has rack storage space, receiving and dispatch bays.
Profi Rom Food SRL
Processes and work relations manager
+40 799 005 457
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