Ermes Department Stores has announced the completion of its agreement to sell its investment in Superhome Center (DIY) Limited.  As part of the transaction, Ermes sold its 51% stake in the company to Vasilitsi DIY Ltd for €39.4 million. The remaining 49%—previously held by the Netherlands-based Secora BV—was also sold as part of the overall deal, bringing the total transaction value to €94 million.

From the total purchase price, €3.74 million was allocated to settle Superhome Center’s outstanding bank obligations. Additionally, €3 million has been designated for upcoming store improvement projects, ensuring further development and upgrades to the business’s infrastructure.

Ermes intends to use €33.6 million from its share of the proceeds to repay outstanding loans, covering both its own debts and those of other companies within the CTC Group. This sale, previously approved by Ermes’s Board of Directors, marks the culmination of the company’s divestment strategy regarding Superhome Center (DIY) Limited.