By Edwig Ban
The Altex Group announces the completion of the acquisition of the Romanian IT&C product distribution company, Despec, following a transaction of over 2 million euros.
Through the acquisition, Complet Electro Serv (CES), a member company of Altex Group and one of the main manufacturers and distributors of IT&C, electronic and household appliances in the country, takes over 79% of the shares held in Despec Romania, the transaction being approved by the Competition Council in March of this year.
“With the acquisition of Despec, the Altex Group diversifies its portfolio of suppliers with international brands such as: Brother, Canon, Hewlett-Packard, Lexmark, Minolta, Optoma, Socomec and Verbatim. Moreover, the IT range expands with over 2,400 products in the category office equipment (inkjet printers, laser printers, scanners and storage media) and accessories (printer cartridges, toners, etc.), intended for sale to resellers, but also in over 120 Altex stores, at the lowest prices in Romania “, announced the company’s representatives.
Despec shareholders, including general manager Cristian Ciurea, will remain in the company.
In 2018, also through Complet Electro Serv (CES), the Altex Group set up a joint venture to take over the IT&C accessories brand, Promate. This year, the Altex Group also acquired RTC Proffice, an importer and distributor of office products and supplies.
By Edwig Ban