Artima (Romania) - Oct 2007

Enterprise Investors’ Polish Enterprise Fund V has sold 100% of Romanian retail chain Artima to French food retail chain Carrefour. The transaction valued the company at E55m, which represents an investment multiple of more than 3x. The transaction will close following the approval by the Romanian anti-monopoly office. Jacek Wozniak, partner at Enterprise Investors, led the exit for Enterprise Investors.

Artima Retail Investment Company SA was founded in 2001. At the time it was acquired by the financial investor, the company operated 14 supermarkets with a total of 15,000 square metres of shopping area in 13 cities of the Transylvania and Banat regions, reaching a consolidated turnover of E31m. Under Enterprise investors ownership Artima opened several new outlets and now operates nw 21 supermarkets with more than 21,000 square metres, spread throughout the country. The expected turnover for 2007 is E95m.

Previous funding

Enterprise Investors acquired the company from its founder Florentin Banu in 2004 for E17m.

Advisers

Equity - PricewaterhouseCoopers, (Financial Due Diligence)Equity - Radu Taracila Padurari Retevoescu, (Legal)

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• Topics
• CEE
• Exits
• Consumer
• Romania
• Trade sale