DGAP-News: Gerry Weber International AG / Key word(s): Acquisition GERRY WEBER acquires CASTRO Deutschland 01.03.2011 / 11:00 --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 01.03.2011 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 113953 01.03.2011
DGAP-News: GERRY WEBER acquires CASTRO Deutschland
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