PPC announces the completion of the acquisition of Kotsovolos from Currys plc, through which it significantly accelerates its transformation into an integrated provider of products and services in the retail market.

KOTSOVOLOS: Α ΝΕΤWORK OF 97 STORES

The acquisition was completed for a consideration that corresponds to an enterprise value of €200 million on a debt-free, cash-free basis, excluding IFRS 16 lease liabilities. The acquisition was completed following the customary conditions for these kinds of transactions, including the merger control clearance of the Hellenic Competition Commission. PPC financed the acquisition through its own funds. Kotsovolos becoming a part of PPC Group is a strategic move since it is fully aligned with the customer-oriented strategy of the group according to the business plan announced by the management on Capital Markets Day 2024 in London. Following the completion of the acquisition of Kotsovolos, PPC Group now includes a popular brand and a wide network of 97 physical stores in Greece and Cyprus, out of which 27 are megastores.

NETWORK OF WAREHOUSES AND VEHICLES

In addition to physical stores, PPC Group has also acquired an integrated, nationwide supply chain network with its own warehouses, a privately owned fleet of vehicles, and a large network of partners for the installation of appliances. It has also acquired an omnichannel sales network, which, in addition to physical stores, includes a call center and a successful e-shop (kotsovolos.gr). Notably, the acquisition of Kotsovolos results in a saving of ~€100 million for PPC Group, which was budgeted for the creation of logistics, delivery, and its ICT infrastructure.

The President and CEO of PPC Group, Mr. Georgios Stassis, said: "Our goal at PPC Group is to be the first choice of customers, not out of habit, but because we are the most modern, environmentally friendly, and consumer-friendly company. An integrated, customer-centric provider of products and services on a digital and physical level. The integration of Kochsovolos into the group, as part of our €9 billion investment plan, brings us much closer to our goal. I would like to thank everyone who has worked hard over the past period to complete the acquisition. Today marks the start of a new relationship with our customers, with the ambition to help them make the most of the benefits of a green energy future and the opportunities created by the new age of electrification."