Altex Group has announced the acquisition of Despec local company, which is one of the largest retailers of IT&C products in Romania. The transaction was worth over EUR 2 million. Following the deal, Altex is taking over 79% of the shares owned in Despec Romania. The transaction has received the Competition Council’s consent since March this year.
Altex will thus diversify its portfolio of international brands, while extending its IT products with over 2,400 items in the office equipment category (inkjets, laser printers, scanners, etc) and accessories (toner cartridges, toner, etc).
“Either we are addressing the B2C or B2B segments, our targets are to respond to the changes in the market and to democratise the access to technology. By including Despec in our network is another strategic step to boost our position on the local electronic and IT market, after the acquisition of RTC and after the joint venture with Promate in the past 2 years”, sai Dan Ostahie, CEO Altex Romania.
Despec share holders, including GM Cristian Ciurea, will remain in the company.