Germany: Rewe to invest $3.42 billion to expand Penny in Romania

German retailer Rewe has announced plans to invest €3 billion ($3.42 billion) to grow its store network in Romania, taking the total number of outlets from 417 to 1,000 by the year 2035.

According to sources, the retailer plans to open 40 more stores and complete its fifth warehouse in Mihailești this year. It also intends to increase the availability of self-checkout machines, providing a faster and more convenient option for customers. All new Penny stores opening this year will reportedly also feature recycling stations.

At a press conference, CEO Daniel Gross said that Penny currently serves roughly 40% of its potential Romanian customer base, indicating potential for expansion.

Penny is reportedly looking to expand in under-served areas around the capital Bucharest, targeting over 380 towns that have more than 15,000 inhabitants.

Source: ESM