RTPR starts 2025 with record-breaking deal getting closed: MidEuropa completes EUR1.3bn Profi exit in largest ever private equity deal in Romania

Profi is a leading traditional grocery retailer in Romania, having over 28,000 employees and a network of more than 1,750 stores, operated both directly and in partner system, with Profi Super, Profi City, Profi Go and Profi Loco as main formats. The transaction valued at approximately EUR 1.3 billion was signed at the end of October 2023 and makes regional history as the largest grocery retail deal ever in Central and Eastern Europe, as well as the largest private equity deal in Romania to date. Furthermore, it is also considered to be the largest grocery deal ever in continental Europe involving private equity.

For this mandate, RTPR involved a multi-disciplinary team of 27 lawyers who were coordinated by Costin Taracila (Managing Partner) and Marina Fecheta-Giurgica (Senior Associate), while Roxana Ionescu (Partner) led the highly complex merger clearance process and FDI notification procedure, along with other multifaceted transaction topics. Maria Luca (Associate), David Mirea and Alexandru Dumitrescu (Junior Associates) provided a significant input in the “road to completion” transactional phase of the project. Employment matters were managed by Alina Stavaru (Partner) and Cezara Urzica (Senior Associate) who negotiated the new management agreements. Cosmin Tilea (Partner) and Andreea Nedeloiu (Senior Associate) coordinated the lawyers that advised on the finance matters of the deal. White & Case LLP has assisted MidEuropa with respect to the English law aspects of the transaction.

“We couldn’t have asked for a more professional and dedicated team by our side in making this landmark transaction for the Romanian market. Their creativity, vast understanding of local market and hard work were crucial factors in overcoming the challenges we encountered in this transaction. I would like to thank RTPR and in particular Marina, Maria, Roxana, Costin for their dedication to this transaction!”, stated Aleksandar Dragicevic, Principal at MidEuropa.

“In a strategic transaction, it is essential to have by your side a team that you can rely on, trust and feel will be there for you every step of the way. I would like to congratulate the entire RTPR team – Costin, Marina, Roxana, Maria, Alina – for their dedication, the patience they have shown, their remarkable professionalism and their constant presence by our side during this important milestone in the history of Profi Rom Food. Thank you!”, said Gaetan Pacton, CEO of Profi Rom Food.

“This is not the first transaction in which we have been assisted by the RTPR team, and the collaboration with them has always been exceptional. We are delighted, both professionally and personally. Throughout the entire process, we felt supported with maximum availability and a level of professionalism rarely seen in the business world. We congratulate them for their integrity, competence and warmth and we hope that this standard remains unchanged in the future”, added Calin Costinas, Deputy CEO of Profi Rom Food.

This marks the third time RTPR has acted as sell side legal advisor in Profi’s successful exit stories. Back in 2009, in the first transaction, RTPR advised the founder of Profi Rom Food on the sale of its 65 stores to Enterprise Investors in a transaction worth EUR 66 million. Later, in 2016, RTPR advised the private equity fund Enterprise Investors on the EUR 533 million sale of Profi supermarket chain to Mid Europa Partners, at the time the largest deal ever completed by a private equity fund in Romania and the largest deal in the retail sector in the country’s history.

“What an extraordinary way to start the new year with such a notable transaction seeing its closing! My deepest gratitude and heartfelt congratulations to the MidEuropa and Profi teams! Thank you for your continued trust and excellent collaboration, together we have once again written history for the Romanian M&A landscape. I would also like to congratulate and thank all our colleagues who worked on this project for their involvement and hard work, your efforts are highly appreciated and everyone’s contribution was essential for the success of this landmark deal”, said Costin Taracila, Managing Partner of RTPR.