Avram ready to sell all Primăvara stores

Businessman Ion Avram, one of the few Romanian entrepreneurs involved in trade to have withstood the crisis, intends to sell the entire Primăvara store chain, which last year posted 37 million euros in revenues.

Avram, also known of late for his real estate investments, has already sold two stores in Bucharest and Pitești to Mega Image, Bucharest’s biggest supermarket chain, held by Belgian group Delhaize.
“We are in talks over the other four stores, as well, but no final decision has been made yet. Several chains have show an interest, Mega Image is one of them,” Avram told ZF, specifying that he had collected over one million euros for the two stores.
Mega Image, with 612 million RON (144 million euros) in turnover in 2009, is one of the “sharks” of the retail market, after the operator paid 6 million euros for 4 supermarkets of small supermarket chain Prodas, and in the first part of this year took over a former space of Ethos retailer. Billa, Mega Image’s main rival on the supermarket segment, has in the past year taken over six former locations of insolvent chain Spar.