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Mega Image retailer takes over La Fourmi chain

Global Finance investment fund has sold the La Fourmi retail trade company that holds 14 supermarkets in Bucharest to Mega Image, the biggest supermarket chain in Bucharest, Global Finance informs.

Daily Ziarul financiar quotes market sources as assessing the transaction at 12-15 million euros, representing about 40 percent of the turnover. Mega Image operates 23 stores in Romania and belongs to Belgian retailer Delhaize, which representatives previously announced they plan to make acquisitions in Romania. Delhaize bought 100 percent in La Fourmi, with the majority stake of 90.21 percent being taken over from the Greek investment fund and the remaining 9.79 percent from the network's founder Charles Maalouf. Global Finance entered La Fourmi business in autumn 2005, having taken it over from Lebanese investors and expanded it from 11 to 14 outlets. The investment fund doubled the retailer's turnover to over 30 million euros in 2007 and started off an upgrading process of the stores. Mega Image, with 20 stores, La Fourmi, with 14 stores, and Ethos, numbering 13 stores, are currently the largest supermarket chains in Bucharest. Sursa: http://www.rompress.ro

Tags: fourmi image stores

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