Allview (Visual Fan SA) received a favorable opinion from the Competition Council to become a majority shareholder, with a 51% shareholding, in the company Intervision Trading RO SRL, sole distributor in Central and Eastern Europe (CEE) of the products of the Japanese brand of electronics, AKAI. Founded in 1996, Intervision Trading has had an upward evolution in the audio systems distribution market, registering a turnover of 7.42 million euros (36.57 million lei) in 2020. Its distribution area with exclusive rights over AKAI’s products include, in addition to Romania, countries such as: Bulgaria, the Czech Republic, Croatia, Greece, Poland, Slovakia, Slovenia and Hungary.
The transaction is expected to lead to a 25% increase in Visual Fan profit for 2022-2023 compared to the estimates in the listing memorandum.
“Taking over the majority stake in a successful distribution company, as proved by Intervision Trading, propels the Allview brand into new international markets, by multiplying sales channels and increasing the penetration power of our product portfolio. Experience so far has shown us that diversifying the product range is beneficial in the IT&C industry, and AKAI products will enrich the Allview offering, being complementary equipment, which we do not produce. Moreover, the expansion of the portfolio with complementary products generates an increase in profitability,” said Lucian Peticilă, CEO and founder of Visual Fan SA.
Intervision Trading RO SRL has registered increasing profits for at least 16 years now, and in 2020, the net profit stood at 1.20 million euros (5.94 million lei), while the budget forecasts for 2021 take in calculation a profit at least at the same level as last year. AKAI products distributed by Intervision Trading include amplifiers, audio systems (home and car), active speakers, portable Bluetooth speakers, DJ systems, and more.
Intervision Trading founder and CEO, Dorin Ciobanu, will remain at the helm of the company.