Business Forum • 7 October, 2025 at 10:00 AM
The Romanian mergers and acquisitions (M&A) market recorded 216 transactions in the first nine months (9M) of 2025, an 8.5% increase compared to the same period in 2024. The estimated value of Romanian M&A activity stood at $5.4 billion, down 1.9% versus the same period of last year.
However, the value of disclosed deals showed a much stronger upward trend, climbing 22.7% to $3.2 billion, driven by the $1.4 billion acquisition of Regina Maria by CVC-backed Mehiläinen. This trajectory for disclosed values in Romania is consistent with regional dynamics, as European M&A deal values rose by around 11% during this period.
The two largest transactions in Q3 2025 were both outbound deals. The largest deal for the quarter was Pavăl Holding's $151 million acquisition of Praktiker Hellas, a Greek DIY and home goods retailer. The second-largest deal was Premier Energy's acquisition of a 51% stake in a 158 MW wind park portfolio in Hungary for $77 million. Ranking third was the announced sale of Napolact to Hungary's Bonafarm for $76 million.
The top five most active sectors by volume in the first nine months of the year were Real Estate, Hospitality & Construction (45 deals) - a traditionally leading sector, Technology, Media & Telecommunications and Health & Life Sciences (32 deals each).
Next came Energy & Utilities (31), and Advanced Manufacturing & Mobility and Consumer Products & Retail (27 each). Health & Life Sciences showed strong momentum, with volumes up 60% compared with the previous year, driven by increased activity in veterinary clinic acquisitions.
Strategic players continued to dominate Romanian M&A, accounting for 86% of deal volume. In terms of country of origin, the US led with 15 deals, while the UK followed closely with 14.