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GR. SARANTIS S.A. has come to an agreement with HUNCA Kozmetic SANAYI A.S.

13 OCTOBER 2004

GR. SARANTIS S.A. has come to an agreement with HUNCA Kozmetic SANAYI A.S. in Turkey, to sell its fragrances in Turkey. At the same time Sarantis will sell HUNCA products in Eastern Europe. 

This agreement will be effective as of October 15th when the Sarantis products will start being sold in Turkey. 

HUNCA Kozmetic SANAYI A.S., is the market leader in Turkey with 35% market share in mass market perfumes and 23% market share in deodorants. The annual turnover of HUNCA is 30 mio USD and has its own production facilities of cosmetics products in Cerkezkoy. HUNCA was established in 1957 and employees 650 people. 

SARANTIS, a leading consumer goods company in Greece and Eastern Europe, has been investigating to enter the Turkish market for the last two years. This partnership with HUNCA is expected to serve the expansion plans of both organizations. 

The intention of both companies is to strengthen their association in the future by adding more products in their respective portfolios. 

SARANTIS management is investigating the possibility to participate in HUNCA Kozmetic share capital, with a long term view.

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