CMS advises Innova Capital on the acquisition of Optical Network and Optiplaza, two top players on the Romanian optical market
Bucharest, July 2019: CMS has advised Innova Capital, a CEE private equity firm, on the acquisition of two top players on the optical market in Romania: Optical Network and Optiplaza.
Optical Network and its subsidiaries own two retail chains of eyewear with 55 stores nationwide (i.e. OPTIblu, offering a premium range of products, and Klarmann, a network providing more budget friendly products and services) and are also active on the wholesale market for the sale of eyewear. Optiplaza owns two retail chains of eyewear with 42 stores nationwide, i.e. Optiplaza and Optica Express, offering a wide range of products and brands. The company also sells optical products through its website.
Both transactions are currently being assessed by the Romanian Competition Council and will be implemented following their clearance by the competition authority.
The two deals that involved complex legal assistance which needed both international expertise and local in-depth legal framework knowledge, two of the CMS team’s most valuable assets, were jointly led by Graham Conlon (Partner and CEE Head of Private Equity) and Rodica Manea (Partner), with support from an extended team of lawyers from CMS Bucharest including, among others, Claudia Nagy (Senior Associate), Elena Andrei (Associate), Felicia Birleanu (Associate), Alexandru Dumitrescu (Associate), Simona Strava (Associate), Catalin Vasile (Associate), Alexandru Trandafir (Lawyer) and Cristina Ciomos (Lawyer).
With the recent acquisitions, Innova intends to further develop the two companies’ operations and expanding the current retail network and distribution businesses. More detailed information on the strategy and plans of the fund in this sector will be presented once the transactions have been finalised, which will follow the approval by the Competition Council.