The PPC Group announces that its wholly owned subsidiary Kotsovolos (Next Gen Retail Services Single Member S.A.) has signed an agreement to acquire 100% of the shares in Romanian technology and electrical goods retailer Flanco (Flanco Retail S.A.) from its shareholders, Iulian Stanciu (98%) and Dragos Sirbu (2%), for a consideration corresponding to an enterprise value of €35.0m.
By applying in Romania the successful model the PPC Group implemented in Greece with its acquisition of Kotsovolos, the deal marks a strong entry into a fast-growing €3.6bn electrical and electronic goods market, through the acquisition of the country’s second-largest network of physical stores.
The transaction is in line with the PPC Group’s Strategic Plan for 2026–2030, accelerating its international expansion and the transformation of Kotsovolos into a leading regional player and an integrated provider of technology devices, home solutions and value-added services in Southeastern Europe. Its aim is to create an integrated ecosystem of technology, services and energy solutions that makes customers’ everyday lives easier and provides practical support for the energy transition in the region.
Under the agreement, Kotsovolos will immediately gain a strong national network of 150 physical stores in more than 100 cities across Romania, with nearly 60,000 sq m of sales space, a third-party logistics platform covering 37,500 sq m, more than 1,200 trained employees and annual footfall of over 14 million consumers. In a market where traditional physical stores play a significant role, accounting for about 70% of sales, the extensive geographical presence ensures direct access to and meaningful engagement with consumers, as well as a network reaching more than 55% of Romanian households.
Flanco will continue to develop its business, while its physical network and logistics infrastructure will serve as a critical “last-mile” platform for the PPC Group—the final physical point for direct delivery, installation and customer service. As part of this, PPC Romania will work closely with Flanco, applying the successful model of joint initiatives and synergies between PPC and Kotsovolos in Greece.
Flanco stores will promote, distribute and provide technical support for PPC Romania’s integrated green transition solutions, including residential solar panels, heat pumps, electric vehicle (EV) charging stations and smart energy applications.
The Group’s expansion unlocks multiple synergies in joint procurement, supply chain optimisation and the development of digital services, offering Romanian consumers an enhanced omnichannel experience, specialised technical support at home, and bundled appliance and energy plans.
Kotsovolos Chief Executive Christos Karagiannakis said: “The agreement to acquire Flanco marks Kotsovolos’ move into a new league: it is emerging as a strong regional player in Southeastern Europe, taking a successful retail model into a market with huge potential, excellent human capital and consumers who love technology, such as Romania. The acquisition of Flanco, as part of the PPC Group’s Strategic Plan for 2026–2030, significantly accelerates the implementation of our business plan, which aims to create an integrated ecosystem of technology, services and energy solutions that makes life easier for our customers in Southeastern Europe and provides practical support for the energy transition in the region. Flanco brings the Group a long track record in the Romanian market, a recognisable brand and, above all, people with specialist expertise and deep knowledge of the market. We are investing in that legacy, and together with the company’s team and management, we will build the future.”
Kotsovolos will finance the acquisition entirely from its own available funds, without borrowing. The transaction is expected to close by the end of 2026, subject to the required approvals from the relevant regulatory authorities and the fulfilment of the customary conditions precedent agreed between the parties.
PwC M&A Consulting Services is acting as financial adviser and law firm Suciu Partners as legal adviser to Kotsovolos in connection with the acquisition.