SARANTIS GROUP ANNOUNCES THE ACQUISITION OF AVA IN GREECE

On March 31st 2015 Sarantis Group signed an agreement to acquire the AVA brand in Greece from Procter & Gamble. Subject to customary conditions, the closing of the deal is expected to occur on April 30, 2015.

This acquisition, completed within the context of the Group’s strategic growth plan, further enriches the Group’s own brand portfolio and reinforces its position as a leading consumer products company.

AVA is a well-established and traditional brand in Greece. AVA has a strong presence in the category of hand dishwashing liquids and holds the 2nd position in the particular market.

The acquisition price was agreed at 3.49million €.

Sarantis Group management initial focus will be targeted on integrating this new brand into the Group’s operation and investing in its support and expansion opportunities.

This acquisition is a great fit for Sarantis Group, fully in line with its objectives and strategy to support its core business activities through both organic growth and acquisitions.