Delta invests 80m EUR in retail facilities in Bulgaria

- Serbian company Delta in Bulgaria will invest 80m EUR this year in expanding its retail network and open the first Tempo hyper market - the CEO of market chain Piccadily, Aleksandar Čamparević, announced.

Delta Holding bought the majority package of stocks of Bulgarian market chain Piccadily in September 2007 and it has, so far, invested total of 140m EUR in Bulgaria, including the investment in takeover of remaining 15% of stocks in 2009.

Čamparević said to the press in Serbia that Delta intended to open Tempo and another 20 new facilities and distribution center in Bulgaria in 2010.

- Construction of Tempo, which will occupy the surface of 30,000 square meters, will cost about 15m EUR - said he.

Čamparević said that Piccadily expected the turnover of 200 to 250m EUR in 2010.

He said that Piccadily had registered about 140m EUR worth of turnover in 2009, 20% more than in 2008, as well as that that market chain had the share of 15% in the market of Bulgaria.

Delta's representatives have not revealed yet how much money the company had to set aside to buy the majority package of stocks of Piccadily in 2007.

Piccadily will open the biggest facility in its retail network today (March 16, 2010) in Sofia. The store is situated in a shopping center in Sofia, it occupies the surface of 4,600 square meters, and Piccadily invested 3.5m EUR in equipping that facility.

The new facility will be opened in the presence of the President of Delta Holding, Miroslav Mišković, and the Ambassador of Serbia to Bulgaria, Aleksandar Crkvenjakov.