Press Release

Quest Group: Quest Holdings Signs Agreement for Strategic Investor GLS to Enter ACS Share Capital

Today, an agreement was signed between Quest Holdings and General Logistics Systems B.V. (GLS) for the latter's participation in the share capital of Quest Group’s courier subsidiary ACS, with a 20% stake. GLS has long been a key partner of ACS and is one of the largest parcel distribution, logistics, and express service companies globally, as a subsidiary of IDS (International Distribution Services – formerly Royal Mail - UK).

The key terms of the agreement include:

• Sale and transfer of 20% of ACS shares to GLS for a total price of €74 million.
• GLS will have the right to purchase the remaining 80% of ACS shares ("call option") on either October 31, 2025, or October 30, 2026, for a pre-agreed minimum price of €296 million.
• Should GLS not exercise the purchase option, ACS will have the right to repurchase the 20% stake from GLS through a pre-agreed mechanism.
• Until GLS exercises its option, ACS will continue to operate under its current management.

"The driving force behind this strategic partnership is the complementarity of the two companies’ operations and the synergies that can be created for mutual growth and enhanced customer service. The investment plan for ACS's development and further market dominance in Greece will proceed smoothly with GLS's participation. Investments will include, among other things, sorting centers and equipment, expansion of the electric vehicle fleet, development of parcel locker networks, and ongoing digital transformation," as Apostolos Georgantzis, CEO of Quest Group and ACS, stated regarding the agreement.

 

Quest Holdings

Quest Holdings SA, the parent company of Quest Group, was founded in 1981 as Info-Quest Ltd. and has been listed on the ASE since 1998. A pioneer in the field of ICT Technology, the Group has associated its name with the development of the Greek IT market and the digital transformation of the country. It is included in the new ATHEX ESG INDEX, which monitors the performance of the listed companies that adopt environment, society and corporate governance (ESG) practices. Quest Group is active in the sectors of Information Technology, Telecommunications and A/C Products - Wholesale & Retail - e-commerce, Information Technology Services, Courier and Postal Services and Green Energy, with a presence in Greece and Europe. The Group's companies employ almost 3,000 professionals and cooperate with the largest companies internationally, creating added value products & services. They serve the entire range of customers, from large private and public corporations to the final consumer, and have a strong financial base, high expertise and positive prospects, each in its field. The Quest Group companies are Info Quest Technologies, Uni Systems, iSquare, iStorm, Quest Online (you.gr), FoQus, Team Candi, EPAFOS, IntelliSolutions, Clima Quest, G. E. Dimitriou, ACS, and Quest Energy.

 

Quest Holdings SA

Athens, 22 October 2024