German retailer OBI to invest €20 mln in Romania

German home improvement retailer OBI, part of the Tengelmann group, is to open, its first two stores in Romania by the end of the year, one in Bucharest and one in the northwestern city of Oradea. The retailer’s medium-term plans involve the expansion of its chain by up to 20-25 stores, to cost some €20 million in the next two years.
“Initially, the expansion will be organic. We are looking for land and space in commercial centers. In future, however, we do not rule out the acquisition of another network,” said a member in OBI’s Board of Directors, Dieter Meschner.