The European Bank for Reconstruction and Development (EBRD) extended a EUR 100 mln loan to the German group Schwarz to finance the expansion of Kaufland operations in Romania and Moldova, according to RTPR, the law firm that provided legal assistance on this project.

Active in the discount hypermarket segment, Kaufland has a network of 155 stores in Romania. The company aims to open at least ten stores in 2022, with a total investment budget of EUR 375 mln.

Last year, Kaufland reported RON 14 bln (EUR 2.8 bln) turnover, 8.8% up y/y.

Apart from Kaufland, the Schwartz group is also present in Romania with the Lidl network.

andrei@romania-insider.com

(Photo source: Kaufland)