Therefore, investors Morphosis Capital and CEECAT will be exiting along with EBRD, just a few months after buying into the local retailer.
Iulian Nica will stay on to run the business and announces expansion of the domestic concept not just in Romania but also in Europe. Moreover, the brand identity will be kept in full, from the store format to the pricing policy and current team.
“La Cocos will become part of the Schwartz Group (…) This partnership confirms the value of the La Cocos model, which has real growth potential (…),” Iulian Nica says.
This deal is not a simple takeover, but a strategic partnership meant to expand and strengthen the La Cocos concept, turning it into an international reference in the Schwarz Group, he added.
La Cocos, which operates four discount hypermarkets in Ploiesti, Brasov and Bucharest, ended last year with more than RON1 billion sales. By sales, it is the leading Romanian-owned network in the grocery retail of the country.
(English version by Loredana Fratila-Cristescu)