20 C
June 13, 2021

Lidl to take over Plus chains in Romania & Bulgaria

Lidl is taking over from Tengelmann the Plus discount store chains in Romania and Bulgaria, the German group informed yesterday according to Mediafax. The value of the transaction was not specified. Plus came to the Romanian market in October 2005 and currently owns a total of 96 stores with over 2,000 staff on the local market. In Bulgaria, the company has 23 stores and 820 employees, the first unit being opened in October 2009. ‘Both Plus subsidiaries are market leaders in both countries,’ Tengelmann states in a press release. The transaction is pending approval by the respective Romanian and Bulgarian competition authorities. ‘By the acquisition of the Plus companies in Romania and Bulgaria, Lidl is taking over the entire Plus business and well as its employees in the two countries,’ the Lidl press release reads. In 2008, Pludi Market operating the Plus stores in Romania posted RON 1.021 bn (EUR 277.2 M) turnover. The German group Tengelmann is also represented in Romania by the Obo DIY chain.

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