SARANTIS GROUP ANNOUNCES THE ACQUISITION OF THE CZECH TRADEMARKS COMPANY ASTRID

More specifically, in the context of further strengthening its geographical footprint within the region of its operation and further enriching its own brand portfolio Sarantis Group signed an agreement for the acquisition of the 100% of the share capital of the company ASTRID T.M.

ASTRID has a long history in the cosmetics market (founded in 1847) demonstrating high brand awareness levels and strong market shares, particularly in the lip care, sun care and foot care subcategories.
ASTRID’s products are currently distributed by Henkel in the Czech and Slovakian market.

ASTRID’s 2013 sales, in Czech Republic and Slovakia, amounted to c.7 mil. EUR.
In terms of the profitability, ASTRID’s 2013 EBIT reached c. 0.6 mil. EUR, while c. 1.5 mil. EUR was the income allocated to the distributor, the largest part of which will benefit the Group at the EBIT line after the Group undertakes the distribution.
The acquisition price amounted to 6.5 mil. Euro and represents the value of the trademarks whilst no assets or liabilities have been acquired.

Sarantis Group’s management initial focus will be targeted on the optimization and support of ASTRID’s product line as well as investments behind the Czech Republic operation, given that this acquisition will almost double the existing business in Czech Republic.
What is more, by adding products homogeneous to the Group’s brand portfolio, the Group will be able to utilize synergies across the Group’s region and improve further the production cost.
Finally, the Group will penetrate into new subcategories within the Czech cosmetics market, allowing for further future growth within the Group’s territory.