SARANTIS GROUP ANNOUNCES THE ACQUISITION OF NOXZEMA IN GREECE

On October 7th 2014 Sarantis Group signed an agreement to acquire the NOXZEMA business in Greece from Procter & Gamble.  Subject to customary conditions, the closing of the deal is expected to occur on October 31st, 2014.

This acquisition, completed within the context of the Group’s strategic growth plan, further enriches the Group’s own brand portfolio and reinforces its position as a leading consumer products company.

NOXZEMA is a well-established brand in Greece having a strong presence in the categories of deodorants/antiperspirants, shower gel/body wash and shave foam.

NOXZEMA’s products are highly recognizable in the Greek market, with its DEOs in particular, being the market leader for the past 11 years. 

The acquisition price was agreed at 8.7 million €.

Sarantis Group management initial focus will be targeted on integrating this new brand into the Group’s operation and investing in its support and expansion opportunities.

This acquisition is a great fit for Sarantis Group, fully in line with its objectives and strategy to support its core business activities through both organic growth and acquisitions.