Owner of major Romanian electro-IT retailer bids for office supplies distribution firm

Romanian investor Dan Ostahie, the owner of the biggest local electro-IT retailer - Altex, is in talks to buy office supplies distribution firm RTC Proffice Experience from Swedish investment fund Oresa Ventures. The estimated value of this deal is around EUR 4 million to EUR 5 million, Profit.ro reported.

The transaction would be carried out through Complet Electro Serv (CES), a manufacturer and distributor of IT&C equipment, part of the Altex group.

RTC Proffice posted RON 130 mln (EUR 27.4 mln) in revenues and a profit of just above RON 0.5 mln (EUR 0.1 mln) last year.

Following the acquisition, CES will be able to expand the product categories it distributes on the local market and will gain access to an additional distribution channel for some of the product categories it currently distributes. CES reported a turnover of RON 419 mln (EUR 89 mln) and a net profit of RON 11.9 mln (EUR 2.5 mln) in 2018.

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