Koninklijke Ahold Delhaize N.V. (ENXTAM:AD) completed the acquisition of S.C. Profi Rom Food S.R.L. from Mideuropa LLP.
January 02, 2025
Share
Koninklijke Ahold Delhaize N.V. (ENXTAM:AD) agreed to acquire S.C. Profi Rom Food S.R.L. from Mideuropa LLP for an Enterprise Value of approximately ?1.3 billion on October 30, 2023. In the twelve months ending June 2023, the company generated ?2.5 billion in sales. The acquisition consideration will be 100% debt funded, with the transaction expected to close in 2024 following the satisfaction of customary closing conditions, including regulatory clearance. The transaction is subject to conditions including merger clearance under applicable competition laws and regulations. As of May 8, 2024, Ahold Delhaize announced the acquisition of Profi is expected to close in the second half of 2024. As of August 7, 2024, Ahold Delhaize announced the acquisition of Profi is expected to close in the Q4 2024. As of August 14, 2024, The Romanian Competition Council has voiced competitive worries about the transaction in which Delhaize The Lion Nederland is purchasing Profi Rom Food. The apprehensions stem from the retail and procurement markets for primarily food consumer goods. As of December 4, 2024, the deal has been approved by Romanian Competition Council, and the deal is expected to be completed in early January 2025.
BofA Securities and Goldman Sachs acted as financial advisors to Ahold Delhaize; Horea Popescu, Eva Talmacsi, Claudia Nagy, Roxana Fratila, and Raluca Ionescu of CMS and GNP Guia Naghi & Partners acted as legal advisors. Ken Barry, Will Summers, Will Smith, Michael Engel, Jonathan Weinberg and Richard Burke of White & Case, and Costin Taracila, and Roxana Ionescu of Radu Taracila Padurari Retevoescu SCA acted as legal advisors, Citigroup Global Markets Limited acted as financial advisor, and Peter Wells, Alexandru Ontica, Alexandra Bulei, Miruna Enache, Costin Manta, Alexandru Grecu and Bogdan Papava of Ernst & Young provided financial and tax vendor due diligence services to MidEuropa and S.C. Profi Rom Food . Boudewijn Vermeer, and Titus de Vries of Clifford Chance advises Bank of America and Goldman Sachs on the financing of the acquisition of Profi Rom Food.
Koninklijke Ahold Delhaize N.V. (ENXTAM:AD) completed the acquisition of S.C. Profi Rom Food S.R.L. from Mideuropa LLP on January 3, 2025.
Ahold Delhaize N.V. is one of the world leaders in retailing. Net sales break down by activity as follows:
- retail distribution in the United States (61.5%): operated, at the end of 2023, 2,048 stores broken down by names between Food Lion (1,108), Stop & Shop (395), Giant/Martin's (193), Hannaford (187) and Giant Food (165). The group is also active in sale and home or workplace delivery of groceries through the Website Peapod.com;
- retail distribution in Europe (36.5%): operated 5,668 stores under the names Albert Heijn (1,268 in the Netherlands, Belgium and Germany), Mega Image (977 in Romania), Delhaize (818 in Belgium and Luxembourg), Gall & Gall (628 in the Netherlands), AB and Ena Food (585 in Greece), Etos (523 in the Netherlands), Delhaize Serbia (529 in Serbia) and Albert (340 in the Czech Republic). Ahold Delhaize N.V. is also active in sale and home or workplace delivery of groceries through the Website bol.com.
Net sales are distributed geographically as follows: the Netherlands (21.1%), Europe (17.4%) and United States (61.5%).