Bongrain Europe completes acquisition of Delaco

Bongrain Europe completed its acquisition of a 52 percent stake in Delaco, one of Romania’s leading players on the cheese market.The closing of the transaction took place on July 27, following clearance obtained from the Romanian Competition Council.

The selling shareholders shall continue to be actively involved in the company’s further development and also retain the management of the company, with Tudor Comaniciu acting as CEO.

“Delaco and Bongrain will combine their respective resources and expertise to offer a large portfolio of high quality cheese products to the Romanian consumers”, said Comaniciu.

Bongrain Europe was assisted by the law firm Biris Goran, with its team lead by Christian Mindru (of counsel), assisted by Dan Jalba (of counsel) and Catalin Oroviceanu (senior associate).

Delaco’s selling shareholders were represented by managing partner loan Schiau, Ph. D., and partner Bogdan Teodorescu of the law firm of Schiau, Prescure & Asociatii.

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Florin Isac and Petre Borocan of KBC Securities assisted Bongrain Europe as financial advisors.

The selling shareholders were assisted by Raiffeisen Capital & Investment, the investment banking arm of Raiffeisen Group in Romania, with the deal team lead by Laurentiu Ciocirlan.

Bongrain has started in France in mid-fifties and realized a 2009 turnover of EUR 3.3 billion with 17,076 employees worldwide.

Delaco was set up in 1996, and since 2000 it has focused on the cheese products segment and has become one of Romania’s leading market players.

Otilia Haraga