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Dentons Advises MGM on Acquisition of Rekord Group

Dentons Advises MGM on Acquisition of Rekord Group

Romania
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Dentons has advised Italian footwear manufacturer MGM on its acquisition of the Rekord Group in Romania. Italy's Advant Nctm reportedly advised Clessidra Capital Credit and co-investors SIP, Smart Capital, and Brixia Finanziaria on supporting the acquisition.

The Rekord group is a manufacturer of technical, sports, and outdoor shoes. Rekord currently employs approximately 700 people and has three production plants located in Alba Iulia, Romania. 

According to Dentons, “the acquisition was completed through a capital increase executed by the Foglio/Congiu family supported by Clessidra Capital Credit and co-investors SIP, Smart Capital, and Brixia Finanziaria, as well as the issuance of a bond loan underwritten by Clessidra Capital Credit, Banca Ifis, Anthilia Capital Partners, and the regional financial company Veneto Sviluppo. The new group, which is the result of the integration of MGM and Rekord – in which the Foglio/Congiu family will hold a majority stake – aims to become the leading European production pole in the technical outdoor footwear market.”

The Dentons team was led by Italy-based Partner Antonella Brambilla and included Romania-based Partner Loredana Chitu, Counsel Maria Tomescu, and Associate Andreea Predescu, with further lawyers in Italy.

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Țuca Zbârcea & Asociații is a full-service independent law firm, employing cross-disciplinary teams of lawyers, insolvency practitioners, tax consultants, IP counsellors, economists and staff members. It also operates a secondary law office in Cluj-Napoca (Romania), and has a ‘best-friend’ agreement with a leading law firm in the Republic of Moldova. In addition, thanks to the firm’s dedicated Foreign Desks, the team provides the full range of services to international investors seeking to gain a foothold or expand their existing operations in Romania. Since 2019, the firm and its tax arm are collaborating with Andersen Global in Romania.

Țuca Zbârcea & Asociaţii is providing legal services in every aspect of business, covering all major areas of practice: corporate and M&A; litigation and international arbitration; corporate tax; public procurement; TMT; employment; insurance; banking and finance; capital markets; competition; healthcare and pharmaceutical; energy and natural resources; environmental; intellectual property; real estate; regulatory legal services.

Țuca Zbârcea & Asociaţii is a First-Tier law firm in all international legal directories and a multiple award-winning law firm both locally and internationally. It received the CEE Deal of the Year Award (DOTY Awards 2021) and the Law Firm of the Year Award: Romania (IFLR Europe Awards 2021). 

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