Romania's M&A market reaches 5.2 billion euros in first half of 2026

The Romanian market for mergers and acquisitions (M&A) has made significant strides, reaching an impressive 5.2 billion euros in the first half of 2026. This marks an astonishing annual growth of 89% and reflects a robust recovery from last year's modest dynamics.

In this period, 162 transactions were announced, representing a 30% increase compared to the same timeframe last year. Notably, the number of large transactions, valued at over 100 million euros, reached ten, the highest in the last decade. This is a remarkable leap from just one such deal in the previous year.

Among the standout deals, the acquisition of Carrefour Romania by the Pavăl brothers topped the charts at over 820 million euros. Premier Energy's acquisition of the Evryo Group, including Distribuție Energie Oltenia SA, followed closely at approximately 700 million euros. Raiffeisen Bank's purchase of Garanti BBVA Romania was also significant, valued at over 590 million euros.

Despite these large transactions, 84% of the announced deals remained below 40 million euros. The medium-sized transactions, between 40 and 100 million euros, accounted for 16 deals, demonstrating a diverse market landscape. In total, the average transaction value for strategic investors was 29 million euros, while financial investors reported a higher average value, indicating a competitive investment environment.

Strategic investors played a pivotal role, contributing to 71% of the total market value with 128 transactions, marking a 38% increase from last year. Meanwhile, the number of financial investor transactions surged by 89%, totaling 34 deals and aggregating a remarkable 1.5 billion euros in value.

The dynamics of the M&A landscape revealed that European capital dominated, financing 87% of the total transaction value, while Romanian investors accounted for 1.5 billion euros, which is 29% of the market. The most significant contributions from foreign investors came from Cyprus, Austria, and Poland.

As the M&A market continues to evolve, it is clear that Romania is experiencing a vibrant transformation, reclaiming momentum and positioning itself as a significant player in the regional landscape. With the first six months of 2024 already showing promise, the future of Romania's M&A activity looks bright.