Businessman Dinu Patriciu, who started developing the first modern format retail kiosk network in Romania, Mic.Ro, this year, has acquired through Mercadia company the smallest discount food retailer on the market, MiniMax, a 45 million-euro business with 31 shops.
The deal, put at several million euros, will get the company a 4-5% market share on the discount food retail segment and is the third acquisition of a discounter in the past year.
"Mercadia Group has been operating on the Romanian retail market through the Mic.Ro shop network since this spring. The MiniMax acquisition is part of the development strategy of the group on this market and entails creation of synergies between the two companies in terms of logistics and procurement, which will allow us to optimise offers for the clients of both segments," said Dan Ionescu, Mercadia Holland BV CEO.
Dinu Patriciu was one of the founders of the MiniMax network, which he exited only two years from the opening of the first stores, in 2006, according to market data. The building of MiniMax shops was one of the first real estate investments of the billionaire on the Romanian market, who conducted them together with his brother.
Businessman Dinu Patriciu, who started developing the first modern format retail kiosk network in Romania, Mic.Ro, this year, has acquired through Mercadia company the smallest discount food retailer on the market, MiniMax, a 45 million-euro business with 31 shops.
The deal, put at several million euros, will get the company a 4-5% market share on the discount food retail segment and is the third acquisition of a discounter in the past year.
"Mercadia Group has been operating on the Romanian retail market through the Mic.Ro shop network since this spring. The MiniMax acquisition is part of the development strategy of the group on this market and e
