Polish Enterprise Fund VII, a private equity fund managed by Enterprise Investors (EI), has sold Noriel, Romania’s number one toys, games and children products retailer. The company has been acquired by Sunman Group, a Turkish market leader in toy retail, distribution and manufacturing that operates under the Sunman and Toyzz Shop brands. The value of the transaction will remain confidential.
Enterprise Investors acquired Noriel in 2016 for an undisclosed amount. At the time, it was a family-owned company backed by a financial investor. It operated a network of 47 shops. As part of the deal, EI provided Noriel with EUR 2 million in funding to boost its growth.
Today, the company is a robust omnichannel business with 88 modern stores located all across Romania. Noriel is a top brand on the Romanian toy market – a one-stop-shop for kids and their parents. The company offers the broadest assortment of toys, games and other baby products in the country. Its fast-growing, scalable e-store with an even broader product offering and highly efficient fulfillment function is a perfect platform for entering new markets, as evidenced by the company’s recent expansion to Bulgaria. Noriel’s modern CRM and loyalty systems put it at an advantage over local competitors. The company’s solid sales growth confirms its strong position: in 2022 Noriel is expected reach revenues of RON 312 million, its highest result to date.
“We are proud to be part of Noriel’s journey toward market-leading retail and e-commerce formats that provide the best shopping experience. Today, this is the only player in Romania to offer a true omnichannel service that maximizes online and offline synergies,” said Dariusz Pietrzak, a vice president at Enterprise Investors, who is responsible for the investment. “A shift in preferences toward innovative, entertaining and educational products will further benefit Noriel thanks to the company’s strong product development and sourcing capabilities,” he added.