EBRD sells Romanian retail chain La Cocos to market leader Schwarz Group

The financial investors who took over the Romanian retailer with a rapid expansion, La Cocos, are selling their 70% stake to Schwarz Group – the market leader that operates the Lidl and Kaufland chains. The founder of the chain expects the German group to preserve the Romanian retailer's identity and develop it along Lidl and Kaufland across Europe.

The European Bank for Reconstruction and Development (EBRD) and investment funds Morphosis Capital and CEECAT announced last August the signing of an agreement to become the majority shareholder in the Romanian retailer La Cocos, previously owned by entrepreneurs Iulian and Gianina Nica. The partnership targets an accelerated expansion of the La Cocos footprint across Romania, the financial investors said at that time.