The European Bank for Reconstruction and Development (EBRD) has announced a €25m investment in Romania’s supermarket and convenience chain Profi Rom Food.
Profi operates around 523 stores in more than 272 localities throughout the country, and was acquired by Mid Europa Partners from Polish Enterprise Fund VI in November last year.
EBRD Romania and Bulgaria regional director Matteo Patrone said: “With our support, Profi will open hundreds of new stores in both big and small localities of Romania, offering customers the opportunity to shop for affordable food in convenient locations while boosting the local economy and creating jobs.
“Extending the outreach will not only benefit customers but also local producers who will have more options to sell their excellent products.”
The chain is set to further expand its network with financing from EBRD, particularly into the country’s smaller towns.
Profi Rom Food CEO Daniel Cirstea said: "Profi has a proven track record of gaining new customers by offering fresh products at affordable prices in modern stores around the country.
“We are pleased that the EBRD is joining Profi’s shareholder group led by Mid Europa and look forward to leveraging their know-how in developing businesses across the CEE region."
The latest financing follows a previous EBRD loan of €25m that supported Profi’s growth.