DLA Piper Dinu assisted Origin Enterprises in the process of acquiring the Romanian companies Redoxim and Comfert, transactions representing the Irish group’s entry in Romania.
Redoxim, headquartered in Timişoara and founded in 1991, is a leading provider of agronomy services to farmers, with approximately 2,000 customers serviced through a distribution network of 55 retail outlets. Origin will acquire 100% interest in Redoxim and the transaction is expected to complete during September 2015. The sellers were assisted by BDO Auditors & Business Advisors (Dan Ştirbu, Partner).
Comfert, headquartered in Bacău and founded in 1998, is a leading fertilizers distributor, operating a distribution network servicing approximately 1,900 farming customers. Origin will acquire 100% of Comfert. The transaction is subject to a number of conditions including clearance from the Romanian Competition Council and is expected to complete during October 2015.
The transactions were coordinated by Marian Dinu - Country Managing Partner and Paula Corban-Pelin - Counsel. The legal team included: Nastasia Dumitru - Associate, Corporate/M&A; Ioana Popescu - Associate, Corporate/M&A; Cristian Vlaicu - Senior Associate, Banking; Tudor Nedelea - Tax Director, Alin Buftea - Partner, Real Estate; Elena-Monica Preoţescu - Managing Associate, Employment.
The acquisition process was complex and required detailed knowledge of the industry and of the specificities of the two companies' business. The process raised challenges such as coordinating all the parts involved in the two transactions (e.g. legal advisors, financial advisors, banking institutions, etc.) and signing both acquisition contracts in a very short timeframe. DLA Piper Dinu's efficient planning, experience and creativity were among the elements that defined the success of this process.
Commenting on the announcement, Country Managing Partner Marian Dinu said: "We at DLA Piper Dinu are delighted to have assisted Origin Enterprises on their market entry in Romania. Negotiating two complex transactions in parallel and signing them in quick succession one after the other was a challenge, but one that our team was equal to. We are confident that these acquisitions will help Origin Enterprises achieve their growth objectives, while giving the Romanian farmers better support in improving yields, reducing hazards and developing their business profitably and sustainably."
Counsel Paula Corban-Pelin added: "Another important aspect in the context of these transactions was the human factor, the team spirit, as well as the close collaboration between the client and the lawyers."
For further information:
Iulia Bertea, Marketing Manager DLA Piper Dinu, 0723 600 041, firstname.lastname@example.org.