Entrepreneur Iulian Stanciu sells Romanian IT&C retailer Flanco to PPC Group subsidiary Kotsovolos

Kotsovolos, a subsidiary of utility group PPC, has acquired 100% of the shares of the Romanian IT&C retailer Flanco from its shareholders, namely Iulian Stanciu, who held a 98% stake, and Dragoş Sîrbu (2%), for a sum corresponding to an enterprise value of EUR 35 million.

With the deal, PPC Group is replicating the model implemented in Greece with the acquisition of Kotsovolos, while entering into a rapidly growing technology and electrical goods market of EUR 3.6 billion, the company said.

The transaction is in line with PPC Group's plan to accelerate the international outreach and transformation of Kotsovolos into a leading regional player, aiming to create an integrated ecosystem of technology, services and energy solutions.

With the deal, Kotsovolos acquires a nationwide network of 150 physical stores in more than 100 cities in Romania, with a total retail sales area of nearly 60,000 sq.m., a third-party logistics platform of 37,500 sq.m., and more than 1,200 employees.

In a market where traditional physical stores play an important role, accounting for approximately 70% of sales, the extensive geographical presence ensures direct access and meaningful engagement with consumers through a network covering more than 55% of Romanian households, the company said.

Flanco will continue to grow its activity, while its physical network and logistics infrastructure will serve as a critical "last-mile" platform for PPC Group, acting as the final physical touchpoint for direct distribution, installation and customer service.  PPC Romania's integrated green transition solutions, including residential photovoltaics, heat pumps, electric vehicle (EV) charging stations and smart energy applications, will be promoted, distributed and technically supported through the Flanco stores.

"The agreement for the acquisition of Flanco marks a step change for Kotsovolos: It is emerging as a strong regional player in Southeastern Europe, exporting a successful retail model to a market with huge prospects, exceptional human capital and technology-loving consumers, such as Romania,” Christos Karagiannakis, the CEO of Kotsovolos, said.

“Flanco brings to the group a long-standing presence in the Romanian market, a recognizable brand, and most importantly, people with expertise and deep knowledge of the market. It is this legacy we are investing in, and together with the company's team and management, we will shape the future," he added.

Kotsovolos will finance the acquisition entirely from its own available funds, without debt financing. The completion of the transaction is expected by the end of 2026 and is subject to obtaining the required approvals from the relevant regulatory authorities, as well as the fulfillment of customary conditions precedent agreed between the parties.