Local retailer Penny Market, which owns over 180 stores under Penny Market and XXL Mega Discount, will invest EUR 19 million in the company’s third deposit in Romania.

The amount includes the plot’s price, as well as the price for constructing and equipping the building.

The warehouse will be located in the Bacau area. It will be the company’s first deposit in eastern Romania, in the Moldova area. It is also the first warehouse of a local retailer in this area.

Penny Market posted a turnover of almost EUR 600 million in Romania, in the 2015 fiscal year, up by 14% year-on-year. The retailer is owned by German group Rewe.

editor@romania-insider.com