Currys, a leading electrical retailer, has announced its plans to explore strategic options for its Greek business, Kotsovolos. The company believes that Kotsovolos, which also has a growing presence in Cyprus, is a strong and profitable enterprise with a highly recognized brand, a unified ecommerce platform, and a diverse range of products and services.

Despite its impressive performance and market position, Currys believes that the current valuation of the group does not fully reflect the strength of the Kotsovolos brand and its long-term track record of profitability. Recognizing the robust economic outlook for Greece and the potential for future growth opportunities, Currys’ board has decided that now is the opportune time to assess all options for Kotsovolos.

CEO Alex Baldock expressed confidence in Currys’ performance in the UK&I, where their transformation efforts are yielding positive results, and the steps taken to drive a profitable recovery in the Nordics. He highlighted that Kotsovolos is an excellent business with a promising future, emphasizing the importance of maximizing value for Currys’ shareholders.

The decision to explore strategic options for Kotsovolos demonstrates Currys’ commitment to unlocking the full potential of the Greek business and seizing the opportunities presented by the strong economic outlook. As the company assesses the best path forward for Kotsovolos, it aims to ensure the maximization of value for its shareholders.

Currys’ announcement signifies its strategic focus on optimizing its operations and portfolio to drive growth and deliver value in the competitive retail landscape. The exploration of options for Kotsovolos reflects the company’s dedication to capitalizing on its diverse businesses and positioning itself for continued success in the ever-evolving market.