The deal is pending approval from the Competition Council.
Mega Image Romania’s general manager Xavier Piesvaux said the acquisition is part of Mega Image’s growth strategy and the 20 stores will strengthen the retailer’s store chain.
Mega Image expects the 20 units to generate revenue of EUR21 million per year.
Early May, Angst group decided to withdraw its 22 stores from Carrefour Express franchise to focus on its field of expertise- the production of processed meat.
Angst group was established in 1990 and owns three plants, in Buftea, Sinaia, and Videle. Angst is 60% controlled by Sorin Minea, while Liudmila Minea and Bernadette Martha Maria Wyrsch-Angst own a 20% stake each.
Founded in 1995, Mega Image is the most extensive supermarket chain in Romania under the brands Mega Image (173), Shop&Go (151) and AB COOL FOOD (1).