Schoenherr advised METRO AG ("METRO") on strengthening its successful cooperation with Koaík via the acquisition of a 25 % stake in Koaík Holding, the parent company of Koaík.cz s.r.o. and Kolichka.bg Online Supermarket EOOD (together "Koaík"), an eGrocery delivery service currently active in the Czech Republic and Bulgaria, with an option for a further 5 % if Koaík expands into other CEE markets in collaboration with METRO.
The acquisition resulted from a close collaboration between METRO and Koaík that began two years ago and that has also covered the Bulgarian market since 2021, which is now expanded to METRO granting Koaík full access to its sourcing capabilities and store network.
"We are delighted to have had the opportunity to support METRO in this transaction that strengthens and institutionalises its sourcing relationship with one of its key partners in the fast-growing eGrocery market," said partner Vladimír Čí~ek.
METRO is a leading international food wholesale company serving approx. 17 million customers in more than 30 countries and employing over 93,000 people worldwide. In the financial year 2021/22, METRO generated sales of EUR 29.8bln.
Founded in 2015, Koaík is an online-only eGrocery business with offerings in the Czech Republic and Bulgaria. Koaík offers same-day delivery and next-day delivery. The company currently serves 190,000 customers across the Czech Republic and fulfils around 6,000 orders daily.
Schoenherr Czech Republic's M&A team provided comprehensive transactional advice to METRO, including due diligence of Koaík, setting up the shareholder structure of the joint venture and transaction structuring, as well as drafting and negotiation of the transaction documentation. Schoenherr Bulgaria's M&A team assisted with the due diligence of Koaík and the Bulgarian aspects of the transaction documentation.
The Schoenherr Czech Republic team advising on the transaction was led by Vladimír Čí~ek (partner) and Michal Jend~elovský (attorney at law). The team also consisted of Ondřej Havlíček (attorney at law), Stanislav Bednář (attorney at law), Helena Hangler (attorney at law), Jak Kupčík (attorney at law), Viktor Pakosta (attorney at law), Natálie Dubská (associate) and Sebastian `peta (associate). The Schoenherr Bulgaria team consisted of Alexandra Doytchinova (partner), Stefana Tsekova (local partner), Elena Todorova (counsel), Katerina Kaloyanova-Toshkova (attorney at law) and Ventsislav Tomov (attorney at law).
Koaík and its shareholder were represented by White & Case.