Quest Holdings Group announced the acquisition of 70% of Benroubis for €27.2 million. The total investment may reach up to €29.2 million within 2025 due to a provision for a return of an additional amount to minority shareholders linked to future results.
Completion of the deal is subject to conditions and contingencies, including the necessary disclosures and/or approvals from the relevant authorities. Grant Thornton acted as financial advisor to Quest on the transaction, and Lambadarios Law Firm acted as a legal advisor.
PRODUCT ENHANCEMENT
Through the deal, Quest significantly increases its portfolio in the home appliances sector. It already has a presence in the electrical appliances sector through the distribution of products from Singer, Izola, and Xiaomi, among others. Benroubi has a strong sales network and also has its own brand, Izzy, which is active in several product categories of small electrical appliances in Greece and has a presence abroad. Therefore, through Benroubi's channel, Quest's products will also be promoted.
BENROUBIS
In 2023, Benroubi reported:
- Sales: €25 million;
- EBITDA: €5.2 million;
- EBT: €3.8 million, while in 2024 it is estimated that these figures will increase. The company operates in the home appliances sector and is a leader in the distribution of electrical and household appliances and personal care products.
THE MANAGEMENT
Under the agreement, Aliki Benroubi will retain her position as Chief Executive Officer of the company, while Alexia Moustroufi-Benroubi will assume the role of Chief Operating Officer.
