SARANTIS GROUP PROCEEDS TO THE ACQUISITION OF THE HUNGARIAN BRAND DOMET

Sarantis Group announces the acquisition of the Hungarian household products brand DOMET.

More specifically, Sarantis Group, in the context of further strengthening its presence in Eastern Europe and in order to meet its strategic goal of becoming the leading consumer products company in the region, signed on 31/05/11 an agreement for the acquisition of the brand name DOMET.

DOMET is present in the cleaning tools category and its product portfolio includes scourers, mops, wipes, etc. DOMET is the 2^nd branded player in the market with almost 20 years of history.

The category of cleaning tools, from which Sarantis has been previously absent, is seen as an investment opportunity by Sarantis management given the particular category has a considerable contribution in the market where Sarantis operates and since the international players and the private labels are still absent from this segment.

2010 sales from DOMET amounted to c. 3.2 mil.

The transaction cost of this acquisition amounted to 2 mil. EUR.

Through this deal, Sarantis Group acquires a brand with homogeneous activities to its core business, a fact which enables the achievement of important synergies. What is more, this deal enables the Group to strengthen its position in the Hungarian market reaching critical mass.

At the same time Sarantis is given the opportunity to expand in the category of cleaning tools within the Group’s territory, a fact that serves the management’s goal of further reinforcing its presence in Eastern Europe.