PPC Group announces that its subsidiary Kotsovolos has signed an agreement for the acquisition of 100% of the shares of the Romanian technology and electrical retailer Flanco, from its shareholders, Iulian Stanciu (98%) and Dragos Sirbu (2%), for a consideration corresponding to an Enterprise Value of 35 million euros.
Replicating in Romania the model implemented by PPC Group in Greece with the acquisition of Kotsovolos, this move marks the entry into a rapidly growing technology and electrical goods market of 3.6 billion euros, through the acquisition of the second-largest physical store network in the country.
The transaction is in line with PPC Group’s Strategic Plan for the period 2026-2030, accelerating the international outreach and transformation of Kotsovolos into a leading regional player and integrated provider of technology devices, home solutions and value-added services in Southeastern Europe.
Through the agreement, Kotsovolos immediately acquires a nationwide network of 150 physical stores in more than 100 cities in Romania, with a total retail sales area of nearly 60,000 sqm, a third-party logistics platform of 37,500 sqm, more than 1,200 employees and more than 14 million customer visits annually.
The CEO of Kotsovolos, Christos Karagiannakis, stated: “The agreement for the acquisition of Flanco marks a step change for Kotsovolos: It is emerging as a strong regional player in Southeastern Europe, exporting a successful retail model to a market with huge prospects, exceptional human capital and technology-loving consumers, such as Romania. The acquisition of Flanco, as part of PPC Group’s Strategic Plan for the period 2026-2030, significantly accelerates the execution of our business plan, which aims to create an integrated ecosystem of technology, services and energy solutions that enhances the daily lives of our customers in Southeastern Europe and actively supports the energy transition in the region. Flanco brings to the Group a long-standing presence in the Romanian market, a recognizable brand, and most importantly, people with expertise and deep knowledge of the market. It is this legacy we are investing in, and together with the company’s team and management, we will shape the future.”
Kotsovolos will finance the acquisition entirely from its own available funds, without debt financing. The completion of the transaction is expected by the end of 2026 and is subject to obtaining the required approvals from the relevant regulatory authorities, as well as the fulfillment of customary conditions precedent agreed between the parties.