Mergers & Acquisitions: Acquisition of Piccadilly chain of supermarkets

Delta Maxi acquired 85% shareholding in the company owning the prestigious Bulgarian chain of supermarket operating under the brand name “Piccadilly” including 15 stores in key locations in the biggest cities of Bulgaria.  The transaction is viewed as the largest in the sector.

Delta Maxi belongs to the Serbian group of companies by the name Delta Holding.  Delta Holding’s turnover in 2006 amounted to € 1.4 billion with the 2007 estimate expected to be € 1.8 billion. Delta Holding has 18,000 employees. Delta Maxi is a dominating player in shop retail business in Serbia.

Delchev & Partners has assisted Delta Maxi throughout the whole acquisition process. Our work has included legal due diligence of the target company, notification to the Commission for Protection of Competition, negotiations, transaction support.  Delchev & Partners is proud to have contributed to Delta Maxi’s success in this acquisition.