The deal was completed on July 26, 2022.
Sunman worked in the deal with law firm Wolf Theiss, whose team was coordinated by Ileana Glodeanu, a partner of the law firm.
Cem Sunman, chairman of Sunman Group, stated that through the acquisition of Noriel group, a robust omnichannel-type business with 88 modern stores located across Romania, the group has achieved its objective of expanding its reach outside Turkey, with the Romanian and CEE markets having a strategic importance for it.
Sunman Toys group was founded in 1985, in Istanbul. In the early 2000s, the group started developing its own stores, reaching meanwhile over 250 units in over 50 cities of Turkey and Cyprus.
Now, the Turkish group has acquired a company with a similar model, Noriel group.
Noriel was initially a family business that was successively sold, partially or entirely, to some investment funds. It was now in the portfolio of Enterprise Investors, which, with this deal, has sold the last business it had left in Romania.
(English version by Catalina Apostoiu)