CMS advises Bonafarm Group on acquisition of market-leading dairy business FrieslandCampina Romania
CMS advises Bonafarm Group, one of Hungary’s largest vertically integrated agri-food businesses, on its acquisition of Royal FrieslandCampina N.V’s Romanian operations. Bonafarm Group will acquire a 97.57% stake in the business of FrieslandCampina Romania S.A., a market-leading dairy business in Romania.
FrieslandCampina Romania owns the well-known Romanian Napolact brand, operates two production sites in Cluj-Napoca and Târgu Mureș, and employs approximately 400 people. The transaction will further bolster Bonafarm Group’s status as a market-leader in the dairy industry.
The transaction is subject to customary regulatory approvals, including clearance from the Romanian Competition Authorities and is expected to be completed by the end of December 2025. Subject to these approvals, Bonafarm group intends to invest in the increased capacity of the facilities, preserve the company’s strong and cooperative relationships with commercial and supplier partners, and contribute to the development of the Romanian dairy industry.
Eszter Török, CMS Corporate and M&A Partner at CMS Hungary, comments: “We’re delighted to have advised Bonafarm Group on this acquisition, which marks a significant step in their expansion strategy. This transaction not only strengthens Bonafarm’s presence in the Central and Eastern European dairy market, but also demonstrates the continued attractiveness of the region for cross-border investment. Our team’s cross-jurisdictional expertise was instrumental in navigating the complexities of this deal, and we’re proud to have contributed to its successful completion.”
Rodica Manea, CMS Corporate and M&A Partner at CMS Romania, comments: “We are delighted to have played an important role in facilitating this significant transaction, which brings together two leading players in the agri-food and dairy sectors. The acquisition underscores the attractiveness of the Romanian market for strategic investors and also paves the way for further innovation and growth within the local dairy industry. This deal reflects the value of close collaboration between our international teams and our commitment to supporting clients in achieving their business objectives in Romania and beyond.”
The CMS team provided comprehensive legal assistance to Bonafarm Group throughout the acquisition. Our support covered all stages of the transaction, including deal structuring and negotiation, legal due diligence, and specialized advice on competition law, IT and intellectual property, employment matters, and data privacy. Seamless collaboration between CMS offices in Romania, Hungary, and the Netherlands was key to the successful execution of this strategic project.
The CMS team was led by Eszter Török and Rodica Manea and included Zoltán Poronyi, Eszter Csapó (CMS Hungary); Rares Crismaru, Claudia Nagy, Elena Andrei, Laura Capata, Catalin Vasile, Simona Strava-Stoica, Ruxandra Georgescu, Bianca Banateanu, Aura Georgiana Marina, Carmen Turcu, and Vlad Dorneanu (CMS Romania); and Mark Ziekman (CMS Netherlands).
CMS has over 35 years of experience in Central and Eastern Europe, with domestic experts and English law practitioners on the ground in 16 offices across the region. The firm has top-ranked Corporate and M&A teams in CEE and is well-placed to manage cross-border and international transactions in the region and beyond.
