Kotsovolos has 95 stores in Greece and Cyprus, of which 27 are megastores. It also has a nationwide supply chain network with its own warehouses, a privately owned fleet of vehicles and a large network of partners for device installations
An agreement for the acquisition of Kotsovolos for a consideration corresponding to an enterprise value of 200 million euros was announced today by PPC, noting among other things that the acquisition of Kotsovolos will bring savings of approximately 100 million euros which, according to the investment plan, was intended for the creation of a logistics network and transport infrastructure as well as IT systems to manage them.
“The agreement with Currys plc to acquire Kotsovolos is a strategic transformational move for PPC, in a market that is changing globally, as the era of energy transition and new electrification creates a whole new world of solutions for households and businesses. With its acquisition Kotsovolos the PPC is progressing even faster in its transformation into an integrated provider of products and services” the relevant announcement emphasizes.
Kotsovolos has 95 stores in Greece and Cyprus, of which 27 are megastores. In addition to the extensive network of physical stores, Kotsovolos has a nationwide network, a supply chain with its own warehouses, a privately owned fleet of vehicles and a large network of partners for the installation of the devices.
It has an omnichannel sales network which, in addition to physical stores, includes a call center and a successful e-shop (kotsovolos.gr).
For the financial year 1.5.2022 – 29.4.2023, Kotsovolos had a turnover of 733 million, showing an increase of 12% compared to 2022, the EBITDA amounted to Euro 49 million and bank borrowing was almost zero. “The above results produced in the context of the successful management of Kotsovolos create positive expectations for the figures of the next financial year” states PPC.
The President and CEO of PPC, Georgios Stassis, said: “With the completion of the agreement, PPC will be another company: An integrated, customer-centric provider of products and services on a digital and physical level. The acquisition of Kotsovolos, as part of our €9 billion investment plan, significantly accelerates the implementation of our business plan, which is based on three pillars, green growth, digitization of all operations and customer centricity.”
PPC intends to finance the acquisition through equity.
Completion of the acquisition is expected to take place within the first quarter of 2024 after receiving the necessary approvals.
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