EBRD loan makes Kaufland the most aggressive hypermarket network

Kaufland opened its 42nd discount hypermarket at the end of last week, in Slobozia, bringing its investments in expansion to 30-40 million euros this year, with openings in Bucharest and Resita among other cities. The company thus leaves behind its two biggest rivals, Carrefour and Real, in terms of value of investments conducted this year. The two invested around 150 million euros in expansion each in 2008. Last year Kaufland opened 7 stores, investing 8-10 million euros on average per store. This year Carrefour opened one hypermarket, in Bucharest, in the wake of around 20 million euros in investments, similar to those conducted by Real Hypermarket in the same interval. In the last two years, the operator has financed its expansion using its own resources, as well as a 100 million-euro loan from the EBRD (European Bank for Reconstruction and Development). This year, the retailer has secured a second, 150 million-euro loan from the EBRD, for 300 million-euro expansion projects in Romania and Bulgaria.