Bogdan Chiritoiu, head of Competition Council on Monday told “MEDIAFAX Talks about Competition” conference that the takeover of the 20 Angst stores may lead to an excessive consolidation of Mega Image position in the Bucharest central zones of Amzei, Academiei and Perla.
Early August, Mega Image said it reached an agreement for the acquisition of 20 out of 22 stores operated by Angst, and was pending the antitrust watchdog approval. The company said it expects them to generate revenue of EUR21 million per year.
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 largest supermarket chain in Romania, with 351 stores under the brands Mega Image (175), Shop&Go (174) and AB COOL FOOD (1) and Mega Drive (1).
Mega Image had a net profit of RON55.1 million (EUR12.5 million) last year, 18% higher than in 2012, and a turnover of RON2.34 billion (EUR530 million), up 33% on the year, according to Finance Ministry data.