German retailer Kaufland will spend EUR 75m to open ten units in Romania this year on expansion plan

Germany-based discount retailer Kaufland intends to open at least ten stores on the Romanian market this year, following 75 million euros investment, according to the company's representatives.

The retailer owns 31 hypermarkets in Romania, out of which 14 were opened last year. A Kaufland hypermarket stretches over 20,000 square meters and includes a sale surface of 4,000 square meters and 200 parking places.

Kaufland has invested more than 354 million euros in Romania since it entered the market in October 2005.

The company initiated a 300 million euros project in partnership with the European Bank of Reconstruction and Development (EBRD) in 2006 to "contribute to increased competition mostly in the secondary cities and relatively disadvantaged areas."

Kaufland is a part of Lidl&Schwarz Co&KG, founded in 1930.

The group has over 200,000 employees working in its 800 hypermarkets in seven European countries. The group posted revenues from sales totaling 44 billion euros in 2006.

The Money Channel