Agroland opens the 20th MEGA store in Romania following an investment of over 700,000 lei
Agroland Business System (BVB: AG), Romanian retail, agriculture, and food business group, which owns the largest network of garden, pet, and farm stores in Romania, announces the opening of a new MEGA store nationally. The store is located in Miroslava, Iași County, the second inaugurated in this county, after Agroland MEGA Pașcani and the 20th in Romania.
“We continue to invest in expanding the Agroland MEGA store network nationwide, one of the main objectives for 2022. We plan to reach 25 MEGA stores by the end of the year, which we estimate will reach maturity by 2024. Miroslava, a suburb of Iași, is one of the richest communes in the country. In the medium and long term, MEGA stores will be the main source of traffic and revenue for the company as our networks continue to grow. Our goal is to become the top-of-mind retailer of Romanians for all activities related to gardening and hobby farming, as well as pet products,” said Horia Cardoș, founder and CEO of Agroland Business System.
Agroland MEGA store opened in Miroslava, inside the first strip mall in this area – Family Market, which covers about 400 square meters, and customers will have access to over 3,000 products. The investment in Agroland MEGA Miroslava amounted to over 700,000 lei, which does not include the goods stocks. The company’s management estimates sales of over 5 million lei made by the new store in 2023 and average daily traffic of approximately 350 people.
Agroland MEGA Miroslava is the fourth store opened by the company this year, after MEGA Pașcani, MEGA Huși, and MEGA Timișoara. The investments made in opening the other three stores amounted to approximately 700,000 lei for MEGA Pașcani, 500,000 lei for MEGA Huși, and 1 million lei for MEGA Timișoara.
Agroland Business System is listed on the AeRO market of the Bucharest Stock Exchange as of March 1, 2021, and is traded under the symbol AG. The company has a market capitalization of approximately 160 million lei, and as of October 11, 2021, AG shares are included in the BET-AeRO index developed by BVB for the AeRO market.
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About Agroland Business System
Agroland Business System (BVB: AG) 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 over 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. This platform consists of six farms located on an area of 30 hectares in Giurgiu County. Agroland is also active in the technology area through AgTech TM by Agroland, the first complete incubation program in Romania that stimulates and supports innovation in agriculture. The shares of Agroland Business System have been floating on the AeRO market of the Bucharest Stock Exchange since 1 March 2021 under the symbol AG.