Following the 31.08.2022 announcement by Papoutsanis regarding the acquisition of 100% of the “Arkadi” soap factory by Papoutsanis and under no. 2095 / 02/09/2022 letter from the Capital Market Commission to the company, the company additionally announced the following:
The acquisition of the ARKADI company by Papoutsanis comes as the culmination of a long-term and excellent collaboration, in the context of which Papoutsanis already produced part of Arkadi’s product portfolio, specifically the soap bars.
The said acquisition mainly concerns and has an impact on one of the four business axes of Papoutsanis, that of branded products, whose sales amounted to 21% of the company’s total turnover for 2021. This agreement is estimated to help the outlook development of the specific business axis and, subsequently, its contribution to the company as a whole, as it introduces Papoutsanis to the clothing care and general purpose cleaning markets. Specifically, with ARKADI products, it is estimated, without the possibility of guaranteeing what the final results will be, that the business axis of branded products can be strengthened by approximately 18-20%, and its participation in the whole company by 2 to 3 percentage points.
In addition to assisting in the development of sales and the portfolio of branded products, the acquisition of ARKADI Soapworks strengthens the company’s identity, as a Greek, traditional company, with pure products of excellent quality – characteristics that are a common starting point for both companies.
It is noted, however, that the price of this agreement does not exceed 5% of Papoutsani’s 2021 turnover and there is no other related financial issue that makes the contract otherwise important for the Company.
Source: Capital

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