The three investors have thus become majority stakeholders in the most powerful entrepreneurial business in local food retail, a business of around RON1 billion (EUR200 million), founded by entrepreneurs Iulian and Gianina Nica.
The money will be used for the development of the low-price hypermarket network.
“As founder of La Cocos store chain, I am confident this association is an extraordinary opportunity to boost efficiency and step up the expansion of our company,” stated Iulian Nica.
The company operates two discount hypermarkets in Ploiesti and one in Bucharest. The fourth unit will be opened in Brasov and the fifth one in Pitesti. The investment budget for the two store stands at EUR16.5 million.
However, Iulian Nica aims for nationwide expansion. Hence, the money injected by the EBRD and Morphosis Capital in the business will be used for development.
La Cocos ended 2023 with sales of almost RON1 billion, 40% higher than in 2022.
(English version by Catalina Apostoiu)