The owners of Romania’s most successful DIY retailer Dedeman announced Tuesday they are buying a minority stake in the Tei pharmacy chain.
Adrian and Dragos Paval are acquiring a 30% stake from Roxana Maftei who developed the chain which is one of the most dynamic in Romania due to its wide selection of pharmaceuticals and related products at competitive prices.
„The investment…. will help us to be able to offer our services to a much larger number of clients in Romania, “ she said, Ziarul Financiar reported.
She said that Paval Holding will help the pharmacy develop further, bringing financial backup and know-how.
„This partnership is based on a common business vision and a set of fundamental values and principles that we share with the Tei group,” said Karina Paval, daughter of Dragos Paval.
“We trust that our experience…..will take the Tei Group to the next level.”
Tei pharmacy had a turnover of 872 million lei last year, 16% up on the previous year, company officials said. Its Bebe Tei’s business also grew by 17.8% last year with a turnover of 444 million lei.
Tei is aiming for a 20% increase in turnover this year. It currently has five stores in Bucharest and one in Constanta. It is planning to open new stores in Bucharest and outside the capital.
The two sides did not make publish the value of the transaction.
In the 2021 edition of the Top 100 companies in Romania yea, Farmacia Tei SRL was valued at 200 million euro. The figure did not include Bebe Tei’s business.
Market leader Dedeman has almost 60 stores and a turnover of 9.1 billion lei in 2020, making it one of the most profitable large companies in the region.
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