The two parties did not disclose the value of the deal, but it is estimated by Ziarul Financiar (ZF) daily at EUR70-90 million based on existing data.
Adrian and Dragos Paval acquired the stake from Roxana Maftei who developed the business that is one of the most dynamic in Romania due to its wide selection of pharmaceuticals and related products and competitive prices.
Tei pharmacy chain had a turnover of RON872 million in 2021, up 16% from 2020, while Bebe Tei’s turnover grew by 17.8% in 2021 to RON444 million, according to company officials.
For 2022, the company aims for a 20% increase in turnover. Farmacia Tei has five stores in capital Bucharest and one in Constanta. The chain will continue its expansion in 2022, being scheduled new openings in Bucharest and regional cities.
Dedeman is leader of the DIY market with almost 60 stores and a turnover of RON9.1 billion in 2020, making it one of the most profitable large companies in the region.
Paval Holding was advised on the deal by KPMG Legal – Toncescu și Asociatii SPARL, KPMG Advisory and KPMG Tax, while Clifford Chance Badea, the local office of global law firm Clifford Chance, advised on Grupul Tei.
Paval Holding is the investment vehicle of the Paval family, the largest local entrepreneurial group, which owns Dedeman and multiple other high-profile investments in Romania.
Established in 1992, Farmacia Tei is specialised in the retail sale of pharmaceutical products, being a benchmark in this field due to its customer-oriented business model. The product policy, the consultancy offered to the clients, as well as the extension in new locations, helped the Tei brand to achieve a position that allowed the development of one of the most famous pharmacies in Romania.
Bebe Tei was initiated in 2011 as an innovation of Farmacia Tei, operating as a separate entity since 2014. Bebe Tei’s mission since its opening has been to bring parents an original concept of stores that meet the needs of the whole family, adapting the assortments and offering a wide range of over 60,000 products.