Delta Holding continues Bulgaria investment
Delta Holding will invest EUR 80mn in expansion of its retail network and open the first Tempo hypermarket in Bulgaria this year.
Tuesday, 16.03.2010.
12:33
Delta Holding will invest EUR 80mn in expansion of its retail network and open the first Tempo hypermarket in Bulgaria this year. Serbia's largest privately-held company bought a majority stake in Bulgarian retail chain Piccadilly in September 2007 and has so far invested a total of EUR 140mn in Bulgaria, including taking over the remaining 15 percent of shares in 2009. Delta Holding continues Bulgaria investment Piccadilly Director Aleksandar Camparevic said that Delta intended to open about 20 new stores and a distribution center beside the Tempo store in 2010. “The construction of Tempo on 30,000 square meters will cost about EUR 15mn,” he said. Camparevic pointed out that Piccadilly expected a turnover of EUR 200-250mn this year. He stated that Piccadilly’s turnover last year was some EUR 140mn, which was 20 percent up on 2008, and added that this retail chain had a 15 percent share in the Bulgarian market. Delta representatives did not wish to disclose the sum for which the chain's majority shares package was acquired in 2007. Piccadilly will open the largest store in its retail network in Sofia. The store is located in a shopping mall, spreading on 4,600 square meters, and has had EUR 3.5mn invested in it. Delta Holding President Miroslav Miskovic and Serbian Ambassador to Bulgaria Aleksandar Crkvenjakov will attend the opening.
Delta Holding continues Bulgaria investment
Piccadilly Director Aleksandar Čamparević said that Delta intended to open about 20 new stores and a distribution center beside the Tempo store in 2010.“The construction of Tempo on 30,000 square meters will cost about EUR 15mn,” he said.
Čamparević pointed out that Piccadilly expected a turnover of EUR 200-250mn this year.
He stated that Piccadilly’s turnover last year was some EUR 140mn, which was 20 percent up on 2008, and added that this retail chain had a 15 percent share in the Bulgarian market.
Delta representatives did not wish to disclose the sum for which the chain's majority shares package was acquired in 2007.
Piccadilly will open the largest store in its retail network in Sofia. The store is located in a shopping mall, spreading on 4,600 square meters, and has had EUR 3.5mn invested in it.
Delta Holding President Miroslav Mišković and Serbian Ambassador to Bulgaria Aleksandar Crkvenjakov will attend the opening.
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