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Romania's Agroland opens new store in Vaslui county

Romania's Agroland opens new store in Vaslui county Agroland MEGA Husi Source: Agroland

BUCHAREST (Romania), May 6 (SeeNews) - Romanian farming products retailer Agroland Business System [BSE:AG] said it opened a new store in the city of Husi, Vaslui county, following a 100,000 euro ($105,940) investment.

The new store covers an area of 500 sq m and has over 3,000 products for sale, Agroland said in a statement filed with the Bucharest Stock Exchange, BVB, on Thursday.

Agroland representatives estimate a daily traffic of approximately 150–250 people for the new store and sales of over 800,000 euro in 2023.

The new unit is the second Mega-type store which the company has opened in the historical region of Moldova this year, after Mega Pascani.

In February, Agroland said it plans to invest 17 million lei ($3.9 million/ 3.4 million euro) in expansion and upgrades this year. The investments will focus on the opening of new stores, expanding the poultry business, modernizing the fodder factory in Caransebes, and developing the online store, Agroland said at the time.

For 2022, Agroland Business System targets a net profit of 13 million lei on a turnover of 241 million lei.

Agroland Business System is a Romanian entrepreneurial company, which owns the largest network of agricultural stores in Romania. The company was founded in 2009 in Timișoara by the entrepreneur Horia Cardoș and today operates a network of 250 stores specializing in the sale of the garden, farm, and pet products. The company also owns the Avicola Mihailesti platform, where it produces table eggs and one-day-old chicks.

Agroland Business System shares traded 0.31% lower at 3.24 lei as at 1109 CET on Friday on the Bucharest bourse.

(1 euro=4.9486 lei)

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