MidEuropa's Record Sale of Profi to Ahold Delhaize Completed
Deal News | Jan 06, 2025 | CEE Legal Matters
MidEuropa has concluded the sale of Romania's leading supermarket chain, Profi, to Ahold Delhaize for EUR 1.3 billion, marking the largest private equity transaction in Romania and the biggest grocery retail deal in Central and Eastern Europe. MidEuropa, a key European private equity investor, has significantly expanded Profi since acquiring it in 2017, growing its number of stores from 484 to over 1,650 and increasing revenue threefold. This transaction also highlights the prominence of the Central European market for compelling growth opportunities. Profi's new owner, Ahold Delhaize, is an influential food retail group operating across multiple countries, expanding its existing Romanian operations. The deal was facilitated by prominent legal advisory teams, including White & Case, RTPR, CMS, and GNP Guia Naghi & Partners, whose expertise supported the successful closure of the transaction.
Sectors
- Private Equity
- Retail
Geography
- Romania – The transaction involves the sale of a Romanian supermarket chain and reflects significant market activity within the country.
- Central and Eastern Europe – This region is highlighted as the location of significant private equity and retail sector activity, exemplified by the Profi sale.
Industry
- Private Equity – MidEuropa is a private equity firm engaging in buyouts and other investments, exemplifying growth and exit strategies as seen in the sale of Profi.
- Retail – Profi is a major Romanian supermarket chain, and the transaction reflects significant activity within the grocery retail sector.
Financials
- EUR 1.3 billion – The transaction value for the sale of Profi.
- EUR 2.5 billion – Profi's revenue in the twelve months ending June 2023.
- Over EUR 6 billion – MidEuropa's assets under management.
- EUR 66 million – Initial sale price of Profi to Enterprise Investors in 2009.
- EUR 533 million – Sale price of Profi to Mid Europa Partners in 2016.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| MidEuropa | Seller | Company | A private equity firm that sold Profi to Ahold Delhaize. |
| Profi | Target Company | Company | Romania's leading convenience and proximity supermarket chain. |
| Ahold Delhaize | Buyer | Company | A Dutch-Belgian retail and wholesale company acquiring Profi. |
| White & Case | Legal Advisor | Company | Advised MidEuropa on the transaction. |
| RTPR | Legal Advisor | Company | Provided legal advice to MidEuropa during the transaction. |
| CMS | Legal Advisor | Company | Advised Ahold Delhaize on their acquisition of Profi. |
| GNP Guia Naghi & Partners | Legal Advisor | Company | Advised Ahold Delhaize in the acquisition. |