Quest Holdings signed an agreement for the acquisition of 70% of the share capital of Benrubi SA for a price of 27.2 million euros, while the total investment may rise to the amount of 29.2 million euros within the next year, due to provision for the return of an additional amount to the minority shareholders linked to the future results of Benrubi S.A.
The agreement provides for the possibility of acquiring the remaining 30% in 2027. Completion of the sale is subject to terms and conditions, including the necessary notifications or approvals from the competent authorities.
Benrubi SA presented sales of 25 million euros in 2023, EBITDA of 5.2 million euros and EBT of 3.8 million euros while in 2024 it is estimated that the figures will further rise.
Benrubi SA has a history of 140 years in the home equipment sector and is a leader in the distribution of electrical and household appliances as well as personal care products. Quest Holdings’ Financial Advisor for the transaction was Grant Thornton, while Lambadarios Law Firm was the Legal Advisor.
Benrubi SA’s Financial Advisor for the transaction was Deloitte, while POTAMITIS/VEKRIS was the Legal Advisor.
