Polish investment fund Enterprise Investors has bought the toy stores Noriel from Romanian investors Cristian Constantinescu and George Constantinescu, and Balkan Accession Fund, which is managed by Axxess Capital.
The Constantinescu family founded the company while Axxess Capital bought a minority stake in 2010.
Noriel is the leader on the toys retail market in Romania, operating through a network of 47 stores in 27 cities and an online platform. The Noriel group includes the toy distributor Noriel Impex, the toy producer Toys and Games Industry and the retail company Intertoy Zone.
Noriel had sales of EUR 30 million last year, up by 26% year-on-year. Enterprise Investors will provide the company with EUR 2 million to support further development.
Polish investment fund Enterprise Investors also owns the Romanian supermarket network Profi.