Merchandising company BIP Grup sold for 2.25m euros

The shareholders of Business Ideas Provider Grup (BIP Grup), Eugen and Ioana Saulea, will collect over 2.25 million euros from selling the company to the British group International Marketing & Sales Group Limited (IMSG). “The acquisition will be conducted in three stages, with IMSG to take over 50% of BIP’s shares in the first stage. The remaining 50% of shares will be bought in two separate stages, 25% in 2009 and 25% in 2011, with their price set following an independent audit. The total value of the transaction is estimated at 3.3 million dollars, but visible results will only become apparent with time, while the value is dependent on BIP’s performance as a group. Therefore, the acquisition price is proportionate to the company’s financial results,” specified Eugen Saulea, general manager of BIP Grup Romania. BIP Grup was set up in 2004, following a 5,000-euro investment to outsource merchandising services (arranging products on the shelves of retail chains), and promotional, sales and distribution services for companies in Eastern Europe. The company was included in the ZF Top 100 Businesses Built from Scratch ranking. Last year, BIP Grup posted an over 1.8 million-euro turnover, double against 2006, and estimates revenues worth 2.2 million euros for this year.