PENNY to Open The First Ten Stores in Bulgaria This Week

Cologne, 03.11.09

More than 50 per cent of the store discounter's product range from the national market

With the opening of six stores in Sofia, Botevgrad, Vratza, Nova Zagora, Svilengrad and Lovech, PENNY has now successfully entered the Bulgarian market. By the end of next week, more store openings will follow in nine additional cities. "The fifteen stores we soon will have mark the first wave of our expansion strategy in Bulgaria. We intend to dedicatedly and quickly expand our store base in Bulgaria over the next five years", said PENNY Management Board member Armin Rehberg on the occasion of the official store launch for Bulgaria.

The stores will be supplied from an logistic hub with a surface of 28,000 square metres, in which 15 million euros were invested and that is located in Stolnik, near the capital of Sofia. Like in other countries as well, PENNY will position itself in Bulgaria as a "national" discounter that offers a product range of which more than 50 per cent is procured from national suppliers. "By using this strategy, we actively support the development of the local economy. Moreover, this approach shows that PENNY deals with its suppliers, customers and employees in an honest and transparent way, right from the start - this is what we understand of "national" discount", said Armin Rehberg.

Besides Germany, Austria, Italy, the Czech Republic, Hungary and Romania, Bulgaria is the sixth foreign market that has been entered by the food discounter which is part of Cologne-based REWE Group. With more than 3,150 stores, about 38,000 employees and a turnover of 9.5 billion euros, PENNY is one of the most successful food discounters in Europe.

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REWE GROUP-Corporate Communications
Tel.: 0221 - 149-1050
E-Mail: presse(at)rewe-group.com

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