DGAP-News: Gerry Weber International AG / Key word(s): Acquisition
GERRY WEBER acquires CASTRO Deutschland
01.03.2011 / 11:00
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Halle/Westphalia, 1 March 2011
PRESS RELEASE
GERRY WEBER acquires CASTRO Deutschland
GERRY WEBER International AG has agreed to acquire CASTRO Deutschland GmbH
& Co. KG effective 1 April 2011. Currently employing 83 people in Germany,
CASTRO operates eight retail locations in Cologne (2x), Stuttgart,
Nuremberg, Münster, Weiterstadt (2x) and Leverkusen.
'I am very gratified that our company and CASTRO have been able to find a
mutually agreeable solution for the takeover of their German business. Our
excellent liquidity and capitalisation mean that we are capable of funding
this acquisition as well as any future retail acquisitions, from equity,'
said Gerhard Weber, Chairman of the Managing Board.
The properties in Cologne's Schildergasse and in Stuttgart's Königstrasse
will be developed into House of GERRY WEBER flagship stores following the
takeover. 'We will be investing a seven-figure amount in these two
locations. In the current financial year we are planning to open a total of
65 to 75 company-managed stores at home and abroad, including the
acquisition of Castro Deutschland,' said Retail Director Thomas Kronefeld.
The company expects to report consolidated sales of EUR 700 million and an
EBIT margin of more than 14.0 percent for the 2010/2011 financial year
ending October 31.
Investor relations contact:
GERRY WEBER INTERNATIONAL AG
Hans-Dieter Kley
NeulehenstraÃe 8
D - 33790 Halle/Westfalen
Tel.: +49 (0) 52 01 - 1850
Fax: +49 (0) 52 01 - 5857
E-mail: h.kley@gerryweber.de
End of Corporate News
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Language: English
Company: Gerry Weber International AG
NeulehenstraÃe 8
33790 Halle/Westfalen
Deutschland
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: h.kley@gerryweber.de
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Stuttgart
End of News DGAP News-Service
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113953 01.03.2011
DGAP-News: GERRY WEBER acquires CASTRO Deutschland
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