PRESS RELEASE
The Gr. Sarantis S.A. Management announces that on 21.12.07 proceeded with the acquisition of the Romanian cosmetics company ELMIPLANT.
More specifically, Sarantis Group, in the context of its further geographical expansion and in order to meet its strategic goal of becoming the leading consumer products company in the Eastern Europe, signed an agreement on the acquisition of the 100% of the capital share of ELMIPLANT, through its subsidiary SARANTIS ROMANIA SA.
The ELMIPLANT Company was first established in 1992 and its main activity is the design, production and distribution of cosmetic products. ELMIPLANT’s core business is in the face care, body care and sun care products, while the company also produces products for the male and baby care as well as the hair treatment, all of which are based on natural ingredients and herbs. The ELMIPLANT Company, which fully complies with the requirements related to the international quality control and safety standards, employs about 90 people and engages to export activities in Moldavia, Canada, Japan and America.
ELMIPLANT is considered one of the most powerful producers of face and body care cosmetic products in the Romanian market demonstrating strong market shares and brand awareness levels.
The acquisition was made through existing cash by using the Group’s own capital and the transaction cost amounted to 6,5 mil. Euros.
It is noteworthy that the company has no debt outstanding and in 2007 is expected to record sales, EBITDA and EBT of approximately 3.8 mil. Euros, 1.2 mil. Euros and 1 mil. Euros, respectively.
Through this deal, Sarantis Group acquires a company with homogeneous and supplementary activities to its core business, a fact which enables the achievement of important synergies and economies of scale. At the same time, it is enhancing the profitability of its subsidiary company in Romania and strengthens its presence in the market due to ELMIPLANT’s leading market share.
Contact
SARANTIS Group
26, Amaroussiou - Halandriou Street
151 25 Maroussi, Athens, Greece
Tel: +30 210 6173000
Fax: +30 210 6197081
e-mail: group-info@sarantisgroup.com
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