Rewe reveals Penny expansion plans

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Carl Collen


Rewe reveals Penny expansion plans

Group to invest in increasing the Romanian reach of Penny Market

Rewe reveals Penny expansion plans

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Rewe has reportedly given the green light to some €45m of investment to expand the operations of discount retail chain Penny Market in Romania.

According to a report by Bucharest-based publication The Diplomat, the group will add a further 13 units to its existing Romanian portfolio, taking the total in the country to 129 by the end of 2011.

At the end of 2010, Rewe had 99 discount stores across Romania, while Penny Market was present in 116 different locations.

Penny Market's turnover climbed above €435m by the end of last year, up 4.3 per cent, The Diplomat reported.

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