Nicolas Kanellopoulos – Chara Zerva & Associates Law Firm – NKLaw Firm is proud to have advised a leading Greek food manufacturer on the successful sale of its Romanian subsidiary to a major player in Romania’s bakery industry, a subsidiary of BIBO Group — one of the largest and most influential food conglomerates in Southeast Europe. The buyer holds a dominant position in the Romanian market, with a long-standing legacy in the region’s fast-moving consumer goods sector and a vertically integrated business model spanning production, packaging, and distribution.
This cross-border transaction was a core component of our client’s strategic transformation, aimed at consolidating operations within Greece and reinvesting capital into high-growth, health-oriented, and sustainable product segments.
Our team provided end-to-end legal and strategic support throughout the transaction lifecycle, ensuring precision, regulatory compliance, and flawless execution at every stage:
Legal Structuring, Negotiation & SPA Drafting: We led the negotiation and drafting of the Share Purchase Agreement and associated documentation, coordinating closely with Romanian local counsel to ensure full compliance with corporate, foreign investment, and regulatory frameworks.
Cross-Border Corporate Coordination: We managed the necessary corporate and board approvals in both Greece and Romania, facilitating a seamless, cross-jurisdictional closing.
Competition Clearance: Given the prominent market share of both the seller and acquirer in the bakery sector, the proposed transaction was notified to the Romanian Competition Council, which conducted a market share and antitrust assessment. The Council reviewed and approved the deal without remedies, confirming it raised no competition concerns — a testament to the strength and transparency of the transaction structure.
This divestment significantly strengthens our client’s liquidity position and marks a decisive pivot toward innovation and sustainability in the Greek food sector. It also demonstrates the ability of Greek corporates to successfully execute complex multinational transactions and navigate cross-border regulatory environments with maturity and strategic clarity.
A special congratulations to our experienced Corporate team, led by Senior Partner Claire Lada, Senior Counsel Beatrice Metallinou, and Associate Foteini Samara Chatzianastasiou, for their excellent work and commitment throughout this transaction.