Quest Holdings S.A. announces that on October 11th, 2024, an agreement was signed for the acquisition of 70% of the share capital of the company Benrubi S.A. for a consideration amounting to € 27,2mil., while the total investment may reach up to € 29,2mil. within the next year, due to a relevant provision for additional disbursements to the minority shareholders linked to the future financial performance of Benrubi S.A.. The agreement include option to acquire the remaining 30% during 2027. The completion of the transaction is subject to terms and conditions, among which all necessary notifications and/or approvals by the competent Authorities.
Benrubi SA during 2023 has achieved Sales of €25m, EBITDA of €5,2m and EBT of €3,8m. It is estimated that these figures will be increased for 2024.
Benrubi SA has a history of 140 years in household equipment and occupies a leading position in the field of distribution of electrical and household appliances as well as in personal care products.
The financial advisor of Quest Holdings for the transaction is Grant Thornton, while the legal advisor is Lambadarios Law Firm.
The financial advisor of Benrubi S.A. for the transaction is Deloitte, while the legal advisor is POTAMITIS/VEKRIS.
