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August 17, 2022
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KPMG in Romania advised Enterprise Investors in the successful sale of Noriel

KPMG in Romania’s Deal Advisory professionals advised Polish Enterprise Fund VII, a private equity fund managed by Enterprise Investors (EI) in the sale of 100% in Noriel Group, the #1 Romanian toys, games and baby products retailer to Sunman Group, Turkish market leader in toys retail, distribution, and manufacturing.

This successful transaction consolidates KPMG in Romania’s leading position in the M&A advisory market and reaffirms our role as a strong partner for private equity funds.

Enterprise Investors is a leading private equity firm in CEE, having invested EUR 2.2 billion in 151 companies across the region, and exited 136 companies with total gross proceeds of EUR 4.2 billion. Noriel was Enterprise Investors seventh investment in Romania.

EI acquired Noriel in 2016 and provided EUR 2 million in funding to boost its growth. At the time, Noriel was a family-owned business, backed by Axxess Capital and operated a network of 47 shops. Today, Noriel is the leading Romanian toys, games, and baby products retailer and sole player with national coverage and omnichannel business model. The company operates 88 stores across the country, supported by a strong online platform and distribution channel.

Sunman Group, is the Turkish market leader in toys retail, distribution and manufacturing, operating under the Sunman and Toyzz Shop brands.

Private equity funds are a strong driver for the Romanian economy, contributing knowledge and dedicating significant resources to manage and grow their investments. KPMG in Romania’s services help stimulate investment in Romania and our region and private equity firms to earn valuable returns which can be passed on to their investors.

We are also happy to see the growing interest of strategic investors in our market, who are gradually stepping in and acquiring mature businesses with healthy growth prospects, from private equity funds.

Despite the recent regional geopolitical developments, Romania is still considered a strong investment destination by both private equity and strategic investors. We have provided M&A advisory services to different sellers on the successful closing of three sizeable transactions in 2022 and we still see a strong pipeline going forward, involving both investor categories in similar proportions.

“We have advised Enterprise Investors on successfully completing this transaction and coordinated a smooth process from strategic planning to deal closing. Through the completion of this complex and competitive transaction, we have proved again that KPMG in Romania has the skillset to provide value added M&A financial advisory services, meeting the high standards of top private equity regional players. We would like to thank our client for the trust and professionalism, and we wish the buyer and the management team success in continuing Noriel’s story in Romania and in the region.

A big thank you to our team, Cosmin Comsa, Senior Manager and Andra Mihalcea, Associate Manager, for their commitment and excellence in the execution of this deal!”, stated Bogdan Văduva, Partner and Head of Deal Advisory at KPMG in Romania.

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