PPC Group said Tuesday its subsidiary Kotsovolos has agreed to buy 100% of Romanian tech and electrical retailer Flanco from shareholders Iulian Stanciu and Dragoș Sîrbu for €35 million, ekathimerini.com reports.

The Greek powertech group said it is applying to Romania the model used in Greece with the Kotsovolos acquisition. The deal marks its entry into a fast-growing electrical and electronics market worth €3.6 billion, by taking over the country’s second-largest brick-and-mortar store network.

Flanco is a major consumer-electronics chain in Romania. The sellers named in the announcement are Stanciu and Sîrbu; the agreed price is €35 million for the full share capital.

PPC frames the purchase as geographic expansion of its retail arm after consolidating Kotsovolos at home. Completion remains subject to the usual corporate and regulatory steps implied by such a share deal; ekathimerini does not report closing conditions in detail.

Source consulted: Kotsovolos acquires Romanian tech, electrical goods retailer Flanco — ekathimerini.

Image: Dixons electronics store (Wikimedia Commons, CC BY 4.0).

Sources consulted: Kotsovolos acquires Romanian tech, electrical goods retailer Flanco — ekathimerini.