MidEuropa to exit Profi Rom Food to Ahold Delhaize

Profi is a convenience and proximity supermarket chain.

  • MidEuropa acquired Profi in 2017
  • Profi is MidEuropa’s fourth exit in 2023
  • MidEuropa is a European private equity investor based in London

MidEuropa has agreed to sell Profi Rom Food, a convenience and proximity supermarket chain, to Ahold Delhaize for an enterprise value of around €1.3 billion pre-IFRS16 (€1.8 billion post-IFRS 16).

Timișoara, Romania-based Profi generated revenues of over €2.5 billion in the twelve months ending June 2023.

MidEuropa acquired Profi in 2017. The company has added over 1,100 stores and increased sales by over 3.3x since MidEuropa’s investment.

“The sale of Profi is our second €1 billion plus exit in the retail sector in Central Europe, following our success with Zabka, where we built a Polish convenience champion,” said Robert Knorr, Managing Partner at MidEuropa. “The sale of Profi is also a very important exit for the Central European region which continues to be home to some of the most compelling growth companies in Europe.”

Profi is MidEuropa’s fourth exit in 2023, following the partial exit from Symfonia in June and Allegro, as well as the full exit from Kent.

The transaction was executed by Aleksandar Dragicevic, Dragos Ardelean, Valentina Giambasu and Ivo Cavrak.

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

Profi’s addition will complement and expand Ahold Delhaize’s Romanian footprint to serve both urban and rural areas, according to a release.

MidEuropa is a European private equity investor based in London. It invests across the healthcare, technology, services and consumer sectors.

Ahold Delhaize is a food retail group based in Zaandam, the Netherlands.

MidEuropa’a advisors were Citigroup Global Markets (financial adviser), White & Case and RTPR (legal counsel), Ernst & Young (financial and tax), and Beragua (commercial).