The latest unit to be fit out is the one of AFI Palace Cotroceni, one of the best hypermarkets of Real network, and this is due to be opened on April 11.
Auchan started remodeling the stores last autumn and managed to complete the process in less than a year. The process involved the reorganization of the sale area, the modification of IT systems, the forging of teams and the modification of the product range after the concept of Auchan, which has a different price policy compared with Real.
After the takeover of Real stores, Auchan chain got to 31 hypermarkets in Romania and revenue of above EUR1 billion, according to ZF estimates. 2013 figures are not public yet, but according to ZF estimates, after the takeover Auchan enters the league of major retailers with revenue of above EUR1 billion.
In Romania, Auchan was one of the least developed players on the hypermarket segment, with 11 stores, but after the acquisition it became the second largest retailer with 31 units.
None of the two sides disclosed the value of the deal, but Real’s Romanian operations (ahead of Auchan’s takeover) were valued at EUR254 million by Capital Partners consultants. The French chain took over 20 of the total 24 stores. In this context, the deal can be valued at over EUR200 million, the most important in the history of domestic retail and also the deal of 2012 in Romania.
(English version by Catalina Apostoiu)