PRESS RELEASE
November 3rd, 2026
PPC Group: Kotsovolos acquires retailer Flanco in Romania
PPC Group announces that its 100% subsidiary Kotsovolos (Next Gen Retail Services Single Member S.A.) has signed an agreement for the acquisition of 100% of the shares of the Romanian technology and electrical retailer Flanco (Flanco Retail S.A.), from its shareholders, Iulian Stanciu (98%) and Dragos Sirbu (2%), for a consideration corresponding to an Enterprise Value of €35.0 m.
Replicating in Romania the successful model implemented by PPC Group in Greece with the acquisition of Kotsovolos, this move marks the dynamic entry into a rapidly growing technology and electrical goods market of €3.6 billion, 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, aiming to create an integrated ecosystem of technology, services and energy solutions that enhances the daily lives of its customers and actively supports the energy transition in the region.
Through the agreement, Kotsovolos immediately acquires a strong nationwide network of 150 physical stores in more than 100 cities in Romania, with a total retail sales area of nearly 60,000 sq.m., a third-party logistics platform of 37,500 sq.m., more than 1,200 skilled employees and more than 14 million customer visits annually. In a market where the traditional physical stores play an important role, accounting for approximately 70% of sales, the extensive geographical presence ensures direct access and meaningful engagement with consumers through a network covering more than 55% of Romanian households.
At the same time, Flanco will continue to grow its activity, while its physical network and logistics infrastructure will serve as a critical "last-mile" platform for PPC Group, acting as the final physical touchpoint for direct distribution, installation and customer service. In this context, PPC Romania will develop close cooperation with Flanco, replicating PPC's successful model of joint actions and synergies with Kotsovolos in Greece. Through Flanco stores, PPC Romania's integrated green transition solutions — including residential photovoltaics, heat pumps, electric vehicle (EV) charging stations and smart energy applications — will be promoted, distributed and technically supported.
This expansion of the Group unlocks multi-layered synergies in joint procurement, supply chain optimization and the development of digital services, offering consumers in Romania an enhanced omnichannel experience, specialized in-home technical support, as well as bundled appliance and energy packages.
The CEO of Kotsovolos, Mr. 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.
PwC M&A Consulting Services is acting as financial advisor and Suciu Partners as legal counsel to Kotsovolos on the acquisition.