RTPR Allen & Overy has advised the shareholders of Sano Vita in relation to the sale of the business to the American private equity fund Highlander Partners. Sano Vita is one of the most reputable and trusted food brands in Romania that sells the whole range of vegetarian products, that include snacks, cereals, rice cakes, tofu, mueslis, and nut and seed mixes.
Cornel Soare, one of the founders and CEO of Sano Vita declared: “The sale process was much more complicated than we imagined when we decided to start this and the sale of the business we built in 25 years was a very emotional moment for the shareholders. We appreciated the professionalism of the RTPR team led by Alina Stavaru for the way she guided us through the labyrinth of legal complexities, but mostly because during negotiations she shared her experience gained in other transactions of what you can and cannot obtain in an M&A deal. We successfully navigated together through this complex experience which was most likely a once in a lifetime one.”
The team was coordinated by Alina Stavaru (Partner) and included Evelin Grigore (Associate), Andrei Mihul (Senior Associate), Marina Giurgica (Associate), Vicu Buzac (Managing Associate), Petrus Partene (Junior Associate) and Radu Manu (Junior Associate).
Alina Stavaru declared: “The sale of Sano Vita represents a new success story of Romanian entrepreneurs. Sano Vita is a 100% Romanian business that was grown by its founders with dedication and passion for a healthy lifestyle, and now we can see how the result of their work enters into a new development phase along international investors. We are honoured that we assisted Sano Vita’s shareholders in this transaction and we would like to thank them for their trust.”
RTPR Allen & Overy’s M&A practice is one of the most experienced in Romania, during the last few years it was involved in numerous landmark deals at local and international level. Chambers, Legal 500 and IFLR1000, the most important international legal directories, rank RTPR Allen & Overy corporate/M&A team on the top tier.
Many successful entrepreneurs choose RTPR Allen & Overy for the exits from their businesses for the extensive experience in similar deals. Selected M&A transactions in which RTPR Allen & Overy have recently advised local entrepreneurs are set out below:
• the shareholders of A&D Pharma, the largest pharma group in Romania, operating wholesale, retail and marketing & sales business and with operations in CEE as well, on the sale of the entire group to Dr Max, the Czech pharmacy chain owned by Penta Investments
• the shareholders of Intelligent IT, the company renowned for the billing software SmartBill, on the sale of the business to Visma group, a Norwegian giant in the software industry
• the shareholders on the sale of Farmavet S.A., Pasteur Filiala Filipesti S.R.L. & the fodder business of Agrozootehnica Pietroiu S.A. to Gardenica Limited, owned by CEE China II Fund (managed by CEE Equity Partners)
• AROBS Transilvania, a market leader in software products and services development, on the acquisition of SAS Grup and UCMS Romania
• Autonom Services on the acquisition of BT Operational Leasing, the operational leasing company currently owned by Banca Transilvania group
• the shareholder of Pet Product, the largest pet shop chain in Romania operating under the Animax brand, on the sale of the company to Rohatyn Group
Note to the editors:
1. Allen & Overy is an international legal practice with approximately 5,400 people, including some 550 partners, working in more than 40 offices.
2. RTPR was incorporated in 2004 and has been working in association with Allen & Overy since 2008. RTPR Allen & Overy has a team of 44 lawyers, including 6 partners: Costin Taracila, Victor Padurari, Alexandru Retevoescu, Mihai Ristici, Valentin Berea, Alina Stavaru and also Prof Dr Lucian Mihai, Of counsel.
3. In this press release, “Allen & Overy” means Allen & Overy LLP and/or its affiliated undertakings.
4. In this press release, “RTPR Allen & Overy” means Radu Taracila Padurari Retevoescu SCA in association with Allen & Overy LLP.
5. Allen & Overy has been operating in the CEE region since 1991, when its first office opened in Warsaw. Since then, it has expanded its operations to include Prague, Budapest, Bucharest, Bratislava and Moscow, all of which are renowned in the market for top quality legal advice combined with local commercial understanding, as well as for their integrity and their pro-active approach to matters. Additionally, Allen & Overy signed an exclusive association with the leading full-service Romanian law firm Radu Taracila Padurari Retevoescu SCA (RTPR), effective from July 2008, expanding the number of CEE offices in which we are able to provide local law advice to six.