Romania's retail chain La Cocos changes hands, being bought by Schwarz Group, the nation's leading retailer.
In a significant move, the Schwarz Group, the market-leading operator of Lidl and Kaufland chains, has taken over a 70% stake in the Romanian retailer La Cocos. The sale, which is now underway, marks a strategic partnership aimed at expanding and consolidating the La Cocos concept.
The original brand and business model of La Cocos will be preserved during its expansion in Europe. This means that the brand identity, including store format, pricing policy, and current team, will remain unchanged. Iulian Nica, the founder of La Cocos, expects the German group to preserve the Romanian retailer's identity and develop it across Europe.
La Cocos was previously owned by entrepreneurs Iulian and Gianina Nica, who now retain a 30% stake in the company. The financial investors Morphosis Capital, CEECAT, and the European Bank for Reconstruction and Development (EBRD) have become the majority shareholders of the retailer. The three investors paid between EUR 30-35 million for a 56% stake in La Cocos, with the EBRD contributing EUR 10 million and EUR 15 million respectively.
The assortment of consumer goods offered by La Cocos includes A-brands, a key aspect of its business model. This allows La Cocos to offer lower prices than its competitors, thanks to its business model based on low operational costs and an efficient shopping experience.
La Cocos serves both B2C customers and small B2B businesses. The expansion of La Cocos will take place under its original brand and business model in Europe. Iulian Nica describes the transaction as a strategic partnership aimed at accelerating the expansion of the retailer's footprint across Romania.
The partnership between the three investors and La Cocos is expected to make La Cocos the fourth strategic pillar within the Schwarz Group, alongside Lidl, Kaufland, and Schwarz Produktion. Iulian Nica will continue to manage the company after the sale.
Despite the change in ownership, the search results do not contain information about the name of the person who owns the remaining 30% of the shares of the Romanian chain La Cocos and continues to lead it.
In conclusion, the acquisition of La Cocos by the Schwarz Group marks a significant step forward for the Romanian retailer. With its unique business model and strong brand identity, La Cocos is poised for continued growth and success in the European market.
