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12° Nicosia,
21 July, 2024
 

How Kotsovolos fits into PPC's master plan

PPC's path to becoming a Southeast European energy leader

Newsroom

The acquisition of "Kotsovolos" propels PPC's transformation into an integrated provider of products and services, reshaping the retail electricity market. By securing "Kotsovolos," PPC gains the means to offer a comprehensive range of services, from electricity and natural gas to cutting-edge energy solutions.

This evolution aligns with the changing landscape of electrification, offering energy-efficient, environmentally friendly, and user-friendly solutions for homes and businesses.

As the energy industry adapts, effective communication of these new possibilities and advantages becomes essential. Furthermore, the logistics system must keep pace with the increasing demand for the delivery and installation of energy solutions.

Photovoltaics, heat pumps, and electric car chargers are just a few of the offerings that need to be efficiently distributed and installed, emphasizing the importance of a reliable logistics network.

This integrated approach mirrors successful practices seen in established European electricity companies like EDF, French gas, and electricity company EDF's collaboration with BOXT in the supply and installation of various products.

Similar strategies have been employed by companies like British Gas and SSE in the UK and Ireland, expanding their services to include repair, replacement, and energy-efficient products.

The acquisition of "Kotsovolos" is a pivotal move in PPC's $9 billion investment plan, accelerating the company's evolution into an integrated, customer-focused provider of products and services, both digitally and physically.

With access to 95 stores and a strong online presence, PPC expands its reach significantly. The acquisition enables access to an extensive logistics system, with new distribution centers planned for efficient handling and delivery.

"Kotsovolos" goes beyond products and offers value-added services, including insurance, warranty extensions, and financing solutions, aligning with the modern energy landscape.

This acquisition, combined with the acquisition of Enel's portfolio in Romania, positions PPC as a leading clean energy company in Southeast Europe.

The agreement stipulates that PPC will pay around 200 million euros for "Kotsovolos," with a net worth estimated at approximately 179 million euros. The transaction is expected to be completed in the first quarter of 2024, subject to approval by Currys' shareholders and competition authorities.

In addition to this acquisition, PPC plans to invest 100 million euros in logistics, transport infrastructure, and IT systems for product sales, significantly expediting their transformation.

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Cyprus  |  energy  |  economy  |  kotsovolos

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