act legal Romania and Mihaela Mîndru Law Office assisted the consortium of the European Bank for Reconstruction and Development (EBRD), CEECAT Capital, and Morphosis Capital Fund II in signing a significant agreement to become the majority shareholder in Romanian discount retailer La Cocoș. The transaction is designed to accelerate the national expansion of La Cocoș, with plans to significantly increase its footprint across Romania.

Founded in 2014, La Cocoș has grown steadily, recording a 24% annual increase in sales between 2018 and 2022, outpacing other key players in the Romanian food retail market. The retailer reported revenues of EUR 200 million in 2023 and is recognized for offering a well-curated selection of approximately 10,000 products at highly competitive prices. According to Iulian Nica, CEO and Founder, the new partnership aims to support La Cocoș in becoming a national leader in the discount retail sector, with a target to open a double-digit number of new locations over the next years.

Christian Mindru, Of Counsel, led the act legal Romania team on this transaction, with important contributions from Real Estate Partners Mihaela Poșircă and Iustina Oblu, alongside Ruxandra Liștea, Counsel, and Alexandru Dan, Managing Associate. The deal is subject to approval by the competent competition authorities, with Ștefan Botezatu, Managing Partner, Andrei Petre, Managing Associate, and Lorena Samoilă, Senior Associate assisting the consortium on the related procedures.

In addition to act legal Romania, legal support was provided by Bryan Cave Leighton Paisner LLP for UK law aspects and Van Campen Liem for Luxembourg law matters. KPMG conducted financial, tax, and ESG due diligence, while Kearney handled the commercial due diligence process. The entrepreneurs behind La Cocoș, Iulian and Gianina Nica, were represented by Țuca Zbârcea & Asociații.