Romanian discount retailer Profi, owned by Polish investment fund Enterprise Investors, continues its expansion plans locally, reaching in May to 400 stores, with the opening unit this weekend in Iasi (north-eastern Romania), a press release informs.
Profi is the second largest retail network in Romania, with over 9,500 employees working in 188 localities in all the counties.
Recently, Romanian retailer has obtained a loan of RON 177 million from the European Bank for Reconstruction and Development (EBRD) and Raiffeisen Bank to support its expansion. The Profi business plan for the next three years provides for opening at least 100 stores each year.
Polish investment fund Enterprise Investors also owns toy stores Noriel, recently bought from Romanian investors Cristian Constantinescu, George Constantinescu and Balkan Accession Fund.