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.

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.

About CMS

Founded in 1999, CMS is an international organisation of independent law firms that offers full-service legal and tax advice. With 91 offices in over 50 countries across the world and more than 7,200 lawyers, CMS has longstanding expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Antitrust, Competition & Trade, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate.