Spar to invest €18 mln in expansion

According to Rino Tizzanini, the company’s General Manager, the average cost to open a Spar store is €1.5 million. The first store will be opened in Constanta’s City Park Mall. The company already owns a hypermarket in Targu Mures and 13 supermarkets throughout Romania. Total investments exceed €22 mln.

Spar’s development target includes 55 stores, including in Bucharest, while long-term plans involve the opening of a total of 250 stores.

The company posted €9.3 mln in turnover in 2006, the year it entered the Romanian market. The supermarkets are operated by Spar Arad, which owns the franchise for the Romanian market.