Elena PPC Group, one of the largest investors in Romania’s energy market, has signed an agreement to acquire the electro‑IT retailer Flanco from its owners, Iulian Stanciu and Dragoş Sîrbu. The transaction values the retailer at €35 million. Stanciu holds 98 % of Flanco’s shares, while Sîrbu owns the remaining 2 %. The purchase will be carried out through Kotsovolos, a subsidiary wholly owned by the PPC Group. Flanco operates 150 stores across more than 100 Romanian cities, employs over 1,200 people, and reported annual revenues of €269 million, according to Ziarul Financiar. With the acquisition, PPC will enter the local electro‑IT retail market, which is valued at approximately €3.6 billion, and will take over the country’s second‑largest physical retail network in the sector. The stores cover a total sales area of nearly 60,000 m², and the retailer uses a third‑party logistics platform of 37,500 m². Flanco’s network records more than 14 million visits per year. The deal is part of PPC’s strategic plan for 2026‑2030, aimed at expanding its presence in Southeast Europe and integrating electronic and household appliance retail with energy services. The group intends to use the Flanco network to promote, distribute, and provide technical support for products such as residential photovoltaic panels, heat pumps, electric vehicle charging stations, and energy‑management solutions. PPC also plans to develop packages that combine appliance purchases with energy supply services, a model already implemented in Greece through Kotsovolos. Christos Karagiannakis, CEO of Kotsovolos, said the acquisition “marks an important change for Kotsovolos: it consolidates us as a strong regional player in Southeast Europe, exporting a successful retail model to a market with huge potential, exceptional human capital, and technology‑savvy consumers such as Romania.” He added that the purchase will accelerate the company’s regional development plans and that Flanco will bring an extensive store network and local expertise. PPC’s representative noted that the acquisition “accelerates significantly the implementation of our business plan, which aims to create an integrated ecosystem of technology, services, and energy solutions.” According to PPC, physical stores generate about 70 % of local electro‑IT sales, and Flanco’s network covers more than 55 % of Romanian households. Stanciu explained his decision to sell Flanco by stating that the next stage of the company’s development requires financial resources and a business model that integrates retail, energy, and home services—an approach that PPC is already developing with Kotsovolos in Greece and is now bringing to Romania. He said, “A strategic partner of this size is the best option for the company, its employees, and its customers.” The acquisition will be financed entirely from Kotsovolos’ own funds, with no debt taken on. The transaction is expected to be completed by the end of 2026, pending regulatory approvals and the fulfillment of other agreed conditions. PwC M&A Consulting Services has been appointed as Kotsovolos’ financial advisor, while Suciu Partners provides legal counsel for the buyer. The sellers are being represented by Filip & Company.
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