Industria
MIDEUROPA SELLS PROFI TO AHOLD DELHAIZE FOR EUR1.3 BN IN LANDMARK EXIT
This development demonstrates MidEuropa's success in driving sustainable growth and building national champions by leveraging its retail and technology experience, deep pan-European network and operational value-add capabilities. The sale is MidEuropa's fourth liquidity event in 2023, following the partial exit of its investment in the software company Symfonia and the e-commerce marketplace Allegro, as well as the full exit from the healthcare provider Kent. These transactions underscore the positive investor sentiment towards Europe and reaffirm MidEuropa's position as a leading dealmaker in Central Europe , a region with strong fundamentals and continuing growth potential.
MidEuropa's sale of Profi to Ahold Delhaize marks the largest grocery deal ever in continental Europe involving private equity. Furthermore, the deal makes regional history as the largest grocery deal ever in Central and Eastern Europe .
Ahold Delhaize is one of the world's largest food retail groups and a leader in both supermarkets and e-commerce. Its family of local brands serves 60 million customers each week, both in stores and online, in the United States , Europe , and Indonesia . In Romania , Ahold Delhaize operates a nationwide network of 969 stores, under the Mega Image brand. The combination will complement and expand Ahold Delhaize's Romanian footprint to better serve both urban and rural areas, creating a strong offering for Romanian consumers.
The transaction was executed by Aleksandar Dragicevic , Dragos Ardelean , Valentina Giambasu and Ivo Cavrak . Advisors to MidEuropa included: Citigroup Global Markets Limited* (financial adviser), White & Case and RTPR (legal counsel), Ernst & Young (financial and tax), and Beragua (commercial).
The transaction is subject to customary regulatory approvals and is expected to close in 2024.
MidEuropa is a leading European private equity investor with deep roots in Central Europe and a long-term track record spanning approximately 25 years. Headquartered in London , with a presence in Warsaw , Bucharest , Budapest , Prague and Zagreb , MidEuropa adopts a flexible pan-European and global approach to identify winning investments across the healthcare, technology, services and consumer sectors. MidEuropa works collaboratively with talented founders and management teams to support and facilitate sustainable growth through buy & build, organic growth acceleration, digital transformation, sustainability leadership and international expansion, to drive transformative growth and build industry champions. To date, MidEuropa has raised and managed funds of over EUR 6 billion , and completed 45 investments and over 240 add-on acquisitions across 18 countries.
MidEuropa
Lucy Eyles
Citigate Dewe Rogerson
MidEuropa@cititgatedewerogerson.com
07525 951207
Miruna Badea
Grayling
miruna.badea@grayling.com
+40 749 169 203
Zuzanna Pydzikova
Grayling
zuzanna.pydzikova@grayling.com
+48 603 300 185
Profi is a leading Romanian proximity grocery retailer, with a network of more than 1,650 stores across Romania , supported by six distribution centres. Profi has over 28,000 employees across the country and generated revenues of over EUR 2.5 billion in the twelve months ending June 2023 . Over the last six years, Profi has successfully implemented an expansion strategy, propelled by investments in infrastructure, digitalisation and HR. During this period, Profi also significantly increased its digital presence and capabilities with the development of a mobile app that has almost 2 million users.
View original content:https://www.prnewswire.co.uk/news-releases/mideuropa-sells-profi-to-ahold-delhaize-for-eur1-3-bn-in-landmark-exit-301971157.html