Avenir Telecom, an international specialist in the distribution of telecommunications products and services, announced yesterday the acquisition of the Portuguese group Ensitel SGPS. The decision is part of a strategy to expand and develop the company’s store chains in the European market.
Through this acquisition, Avenir Telecom will reinforce Ensitel’s strategy and financial structure in the national market, allowing the Portuguese company to enter new market segments.
The European distributor will maintain the current management team, which is currently managed by Henrique Telhado, financing the acquisition through own funds and a medium-term credit line, granted by the banking union that supports Avenir Telecom.
«With the purchase of a leading and profitable store chain, we entered one of the main markets in Western Europe. The growth prospects in Portugal are excellent and this operation will quickly benefit Avenir Telecom and all its shareholders.», Reveals Jean-Daniel Beurnier, President of the Avenir Telecom Group, in a press release.
The Ensitel Group currently has 65 stores that distribute telecommunications products and services in Portugal, namely from the three national operators, TMN, Vodafone and Optimus, and also has a partnership with Nokia.
Last year, Ensitel achieved a turnover of 38.8 million euros, having recorded an EBITDA of 2.8 million euros and an increase of 17 percent compared to 2003.
This year Avenir Telecom opened twelve stores in new points of sale, aiming to provide mobile products and UMTS services, namely in Cádiz, Murcia, Alicante, Vizcaya y Córdoba. The European distributor reached 17 million euros last year.
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