Romania Approves Auchan Acquisition
- New Europe Investor
- January 09, 2015
French retail giant, Auchan has been given the approval to take over 12 hypermarkets and shopping centres in Romania.
Approval was given by the Competition Council in the country. Previously, they had been renting the locations.
The Auchan acquisition will add to the 32 Romanian locations already in operation.
Of the 32, 20 were acquired through a takeover of German Metro Group which was subsequently rebranded.
Auchan’s turnover in Romania last year was 4.6 billion leu, equating to approximately €1 billion. However, this was met with a €15 million loss.
Auchan is headquartered in Croix, France. It operates in 12 countries employing 270,000 people.
They have a total of 3,000 locations, primarily in Europe, but also as far as China and India. As of last year, the company entered into Iraq.
Auchan is controlled by the Mulliez family, one of the wealthiest in France whose interest extend to a variety of different businesses.