Greek energy group PPC to acquire Romania's second-largest electro-IT retailer Flanco for €35mn

Greek energy group PPC has signed an agreement to acquire Romanian electronics and home appliance retailer Flanco from entrepreneur Iulian Stanciu in a transaction valued at €35mn, a press release from PPC said. 

The acquisition will be carried out through Kotsovolos, PPC’s wholly owned electronics and home appliance retail subsidiary, and will give the group access to Romania’s second-largest physical retail network in the sector.

Flanco operates 150 stores in more than 100 cities, employs over 1,200 people and recorded annual turnover of €269mn. Its outlets have a combined sales area of almost 60,000 square metres and receive more than 14 million customer visits annually.

The retailer also uses a 37,500-square-metre logistics platform operated by a third-party provider.

Stanciu, formerly chief executive and shareholder of major online retailer and marketplace eMAG, owns 98% of Flanco, while the remaining 2% is held by Dragoş Sîrbu. He also sold his eMAG stake recently, with a view to envisaging other investments.

The transaction marks PPC’s entry into Romania’s electronics and home appliance retail market, extending its presence beyond energy supply and related services. The group has operated across several segments of Romania’s energy market (renewable energy production, electricity supply and distribution, solar and mobility solutions provider) since acquiring Enel’s local operations in 2023.

The acquisition forms part of PPC’s 2026-2030 strategy to expand across south-eastern Europe and combine electronics and household appliance sales with energy services and solutions.

"The agreement for the acquisition of Flanco marks a step change for Kotsovolos: It is emerging as a strong regional player in Southeastern Europe, exporting a successful retail model to a market with huge prospects, exceptional human capital and technology-loving consumers, such as Romania," said CEO of Kotsovolos, Christos Karagiannakis.

"The acquisition of Flanco, as part of PPC Group's Strategic Plan for the period 2026-2030, significantly accelerates the execution of our business plan."

PPC plans to use Flanco’s retail network to promote, distribute and provide technical assistance for products including residential photovoltaic panels, heat pumps, electric vehicle charging stations and energy management systems.

The group is also considering packages combining household appliances with electricity supply services.

PPC already applies this business model in Greece through Kotsovolos, the electronics and home appliance retailer it previously acquired and which will now serve as the vehicle for its takeover of Flanco.

The agreement expands PPC’s Romanian operations into retail distribution, while adding a nationwide network through which the group can offer energy-related products and services to households.