By Ian Walker

Ahold Delhaize is buying Romanian grocer Profi Rom Food for 1.3 billion euros ($1.37 billion) in a deal that will double its business in the country.

The Dutch grocer said Monday that it expects to generate significant revenue growth and synergies from the acquisition.

It said that the enterprise value of the deal is EUR1.3 billion, corresponding to a lease-adjusted enterprise value of EUR1.8 billion. The acquisition will be funded fully in debt, it added.

Profi Rom has 1,654 stores in Romania and generated sales of EUR2.5 billion in fiscal 2023.

Write to Ian Walker at ian.walker@wsj.com

(END) Dow Jones Newswires

October 30, 2023 04:00 ET (08:00 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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