LONDON – Global law firm Dechert LLP has advised Mid Europa Partners on its acquisition of Profi Rom Food, the largest supermarket chain in Romania from Polish Enterprise Fund VI. This is the largest deal ever completed by a private equity fund in Romania and the largest retail deal in the country’s history. Profi is a modern retail network with the widest geographical spread in Romania, operates from almost 500 stores and had sales of EUR 800 million in 2016. Today Profi is one of the top employers in Romania with nearly 11,000 employees.
The Dechert team, co-led by John Markland (Private Equity Finance) and Ross Allardice (M&A), have been busy since their arrival at Dechert earlier this month. London based partner John Markland said “We are delighted to support Mid Europa on this important and strategic transaction. This transaction demonstrates that trophy assets in the CEE region can be bought and financed on terms that would be considered market leading and cutting edge in Western Europe or indeed anywhere. Also, it has been a fabulous opportunity to showcase the Firm’s private equity financing capabilities.”
Private equity partner Ross Allardice said “We were delighted to advise Mid Europa on the successful signing of this landmark transaction, the largest Romanian leveraged buyout ever to date. It has been an exciting opportunity to be part of this highly innovative deal and to demonstrate the Firm’s private equity credentials on a competitive auction process and our ability to successfully advise clients on complex cross-border transactions.”
Nikolaus Bethlen, partner at Mid Europa Partners said “The team at Dechert were integral to the delivery of a smooth and efficient process, working closely alongside the team at MEP and enabling us to sign this multi-faceted retail transaction on market-leading terms and in short order.”
The Dechert team on the transaction also included debt partner Giles Belsey and associates Ross Montgomery, Kevin-Paul Deveau, Kenny MacLeod and Jonathan Groves and trainee solicitor Anna Gaudoin.
