Owners of Romanian DIY retailer Dedeman buy one-third of pharmacy chain Tei
Tei Group, a major player in the Romanian pharmaceutical retail and Pavăl Holding, the investment vehicle controlled by Dragoș and Adrian Pavăl - founders of Dedeman DIY stores, announced the conclusion of a partnership under which Pavăl Holding takes over a 30% package of Tei Pharmacy and Bebe Tei. The value of the transaction was not disclosed.
Local entrepreneur Roxana Maftei founded Tei Group.
Clifford Chance Badea, the local office of global law firm Clifford Chance, advised Grupul Tei, while KPMG Legal advised Pavăl Holding.
"Beyond its financial capacity, Pavăl Holding will contribute with its experience in the development of a network of physical stores, as well as its expertise in efficient financial management. Through this partnership, the Tei Group aims to move to the next stage of its evolution, benefiting as much as possible from the know-how, scalability, but also from the financial solidity that Pavăl Holding brings," Roxana Maftei said, Wall-street.ro reported.
Tei Pharmacy and Bebe Tei are businesses with local capital that have registered a remarkable evolution in recent years. Founded in 1992, Tei Pharmacy specializes in pharmaceutical retail.
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