European Supermarket Magazine reports that the private equity firm MidEuropa Partners is looking to sell the Romanian retail chain Profi for 1 billion euros. According to the source, MidEuropa Partners has engaged the investment bank Citi to find a buyer, as stated by sources close to the discussions.

Several strategic players are said to be considering the Profi chain, including international entities with a local presence such as Ahold Delhaize (owner of Mega Image), Auchan, and Carrefour, among others. Polish retailers like Biedronka, Dino, and Żabka also have Romania on their list of plans.

Profi is one of the largest retailers in Romania, with a turnover of 2.4 billion euros last year and over 1,600 stores.

Profi has rapidly expanded in Romania, both in cities and rural areas, through its combination of standard, proximity, and small-town stores.

MidEuropa Partners acquired Profi in 2016 from Enterprise Investors in Poland for 530 million euros. At that time, the retailer had approximately 500 supermarkets and modern convenience stores throughout Romania.

Since then, the business has tripled, and the store network has doubled. Profi holds an 8% market share in the modern food retail segment in Romania.

This is not the first time that MidEuropa Partners has attempted to sell Profi. The firm reportedly explored a sale in 2019, but no deal was finalized.

It is not clear why the private equity firm is now seeking to sell Profi, but the sale may be part of a broader portfolio restructuring.