The sale of its 49% stake in the Joint Venture with The Estée Lauder Companies for a total amount of 55.2 million euros, was announced Gr. Sarantis SA.
As part of its “go-to-market” strategy, The Estée Lauder Group decided to carry out its activities in the Greek market as well as the Balkan market directly, from June 15, 2022. The transaction does not affect existing jobs.
According to a company announcement, the above agreement is in line with the strategy of the Sarantis Group and occurred in the context of the commitment of the management to focus on the strategic activities of the Group and the utilization of financial and human resources to enhance the further development of the Group. Sarantis Group plans to use the proceeds to fund new acquisitions in activities that are part of the strategic product categories in which the Group operates.
