EY assisted MidEuropa in the sale of Profi supermarket chain, a landmark transaction in Romania

MidEuropa announces the sale the Profi supermarket chain to Ahold Delhaize. This is a landmark transaction in Romania and the largest grocery deal in continental Europe involving a private equity as well as the largest grocery deal in Central and Eastern Europe.

Profi is Romania’s leading convenience and proximity supermarket chain which operates more than 1,650 stores and generated revenues in excess of EUR 2.5 billion in the twelve month ending June 2023.

For Ahold Delhaize Profi provides a strong format fit and complementary customer proposition expanding its exiting footprint to better serve both urban and rural areas.

The transaction is subject to customary regulatory approvals and is expected to close in 2024.

EY Strategy and Transactions team provided MidEuropa with financial and tax vendor due diligence services, advising MidEuropa from the acquisition of Profi in 2017 and up to its sale.

Aleksandar Dragicevic, Principal at MidEuropa, mentioned: “We have an excellent collaboration with the EY team and their expertise, experience and responsiveness have been very valuable in this process. The quality of work and advice on both financial and tax matters was outstanding and the team collaborated seamlessly with the management and other transaction advisers.”

The team providing transaction advisory services on behalf of EY was coordinated by Peter Wells, Alexandru Onțică and Alexandra Bulei for the financial assistance, Miruna Enache, Costin Manta, Alexandru Grecu and Bogdan Papavă for taxation assistance.