Quest Holdings announced that on Friday, October 11, an agreement was signed for the acquisition of 70% of the share capital of Benroubi for a price of €27.2 million, while the total investment may reach up to €29.2 million within the next year due to the provision for the return of an additional amount to minority shareholders linked to the future results of Benroubi S.A.

The agreement provides for the possibility to acquire the remaining 30% in 2027. Completion of the acquisition is subject to conditions, including the necessary notifications and/or approvals from the competent authorities.

In 2023, Benroubi S.A. reported sales of €25 million, EBITDA of €5.2 million, and EBT of €3.8 million, while in 2024 it is estimated that these figures will increase.

It should be noted that Benroubi S.A. has a 140-year history in the household equipment sector and holds a leading position in the distribution of electrical and household appliances as well as personal care products.

Grant Thornton acted as financial advisor to Quest Holdings for the transaction, while Lambadarios Law Firm acted as legal advisor.