Sarantis winds up acquisition
Cosmetics and household goods wholesaler Sarantis has completed the acquisition of Hungary’s Trade 90 for 2.74 million euros in a deal that will boost its earnings as of next year. Food packaging company Trade 90 is expected to report earnings before interest and tax in 2008 of 450,000 euros on sales of 6.5 million euros for the same period. «Through this deal, the Sarantis group acquires a company with homogeneous and supplementary activities to its core business, a fact that enables the achievement of important synergies,» the company said in a bourse filing. Trade 90’s packaging products are well positioned on the market and maintain second position in terms of market share, the Greek company added.
