Schwarz expands the Kaufland hypermarket chain in Romania

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The European Bank for Reconstruction and Development (EBRD) granted a loan of 100 million euros to the German Schwarz Group, Balkanengineer.com learned from Romania-insider.com. The funds will be used for the expansion of the Kaufland retail chain in Romania and Moldova.

Kaufland currently has 155 hypermarkets in Romania. The company aims to open at least 10 more sites this year. with a total investment budget of 375 million euros.

Last year, the hypermarket chain reported a turnover of 14 billion lei (2.8 billion euros), which is an increase of 8.8% on an annual basis.

Schwarz is also present in Romania with the Lidl network.

Photo source: freepik.com