Deal Announcement 01/15: Retail & Consumer
PwC M&A acted as exclusive financial advisor to SKLAVENITIS S.A. on the acquisition of MAKRO Cash & Carry Hellas from METRO GROUP
The Deal
SKLAVENITIS S.A. („Sklavenitis“) acquired MAKRO Cash & Carry Greece („Makro“) from METRO GROUP, Düsseldorf („Metro“), including nine wholesale stores, extending its present portfolio of around 110 retail locations.
PricewaterhouseCoopers AG WPG („PwC”) was mandated by Sklavenitis and acted as exclusive financial advisor.
MAKRO
Makro operates nine wholesale stores with around 1,000 employees across the country. The company generated sales of €301 million in the financial year 2012/13.
Sklavenitis
Since 1954, Sklavenitis is one of the largest and leading retailers in Greece achieving continuous growth with annual turnover that amounted to 1.2 billion euros in 2013. A network of 3 hypermarkets and 107 supermarkets staffed with 8,500 employees serves more than 200,000 customers on a daily basis. With the acquisition of Makro, Sklavenitis plans to make an inroad into the wholesale business and thereby extend its present portfolio of retail locations.
METRO
Metro is one of the largest international retailing companies. In the financial year 2013/14 it generated sales of around €63 billion. The company operates around 2,200 stores in 30 countries and has a headcount of around 250,000 employees.
PwC
The global PricewaterhouseCoopers network is a worldwide association of independent auditing and consulting companies which together employ more than 195,000 employees in 157 countries. Our global network comprises nearly 1,000 M&A professionals all over the world, realizing approx. 300 successful transactions per year. We specialize in a wide range of independent M&A services including advice on acquisitions and disposals, mergers, public takeovers, privatizations as well as structured financing.
The PwC M&A team acted as exclusive financial adviser to Sklavenitis providing also debt advice.
The PwC M&A team was led by George Nikas and Costas Mitropoulos (Athens) and Alexander von Friesen (Frankfurt).
Due diligence (Nicholas Peyiotis) and tax advisory services (Vassilios Vizas) were also performed by PwC.
