ATHENS, Greece, July 16 (SeeNews) – Swedish refrigeration wholesaler Beijer Ref has agreed to receive an 80% stake in Greek air conditioning company Inventor in order to gain a foothold in the neighborhood market.
The conditions of the financial investment settlement give Beijer Ref an choice to purchase the relaxation of the small business in the long term, the buyer mentioned in a push launch unveiled previously this week.
The selling price of the offer was not disclosed.
Inventor provides air conditioners, dehumidifiers, air purifiers, freezers, minibars, vacuum cleaners and warmth pumps, among other matters. The corporation is based mostly in Athens, Greece and also operates a next revenue office environment in Bucharest, Romania. The corporation, which employs around 80 folks, has once-a-year profits of just about 600 million kroner (69.1 million US pounds / 58.5 million euros).
The most important revenue channels of the Greek business are vendors and installers. The merchandise are also out there on Amazon’s e-investing system, a new product sales channel for Beijer Ref.
The transaction is subject to regulatory approvals and is envisioned to near in autumn 2021.
Greece is a wholly new market place for Beijer Ref and the transaction is in line with the company’s growth method, claimed the CEO of Swedish organization Beijer Ref in the statement. The CEO also expressed his motivation to produce Inventor with buyers and administration.
($ = .8474 euros)