Enterprise Investors explores Profi’s strategic options
Warsaw, 24 May 2016 — Polish Enterprise Fund VI (PEF VI), a private equity fund managed by Enterprise Investors, announced today that it plans to explore the strategic options available to Romania’s leading supermarket chain, Profi. The private equity manager has decided to hire Citi Corporate and Investment Banking to assess the current market situation and potential scenarios for the company’s future development.
Profi is a modern retail network with the widest geographical coverage in Romania. PEF VI acquired 100% of the company for EUR 66 million in 2009 and made a EUR 10 million follow-on investment in 2011. Since the initial transaction Profi has grown at a tremendous pace, opening 93 stores in 2015 alone and now operating a network numbering more than 400 stores. Profi adapts its offer to meet consumer demand and successfully penetrate regions previously unavailable to modern retail. In addition to the “Standard” and “City” formats that the company operates in urban areas, it recently developed the “Loco” format targeting rural parts of the country. In 2015 Profi recorded EUR 565 million in revenue and today has a workforce of close to 10,000 people.
Enterprise Investors is one of the largest private equity firms in Central and Eastern Europe. Active since 1990, the firm has raised eight funds with total capital exceeding EUR 2 billion. These funds have invested EUR 1.7 billion in 136 companies across a range of sectors and exited 112 companies with total gross proceeds of EUR 2.3 billion.
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