Gerry Weber International AG / Key word(s): Miscellaneous
03.06.2014 07:34
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Ad-hoc release pursuant to section 15 WpHG
GERRY WEBER acquires franchised HOUSES of GERRY WEBER in Norway
(Halle/Westphalia, 3 June 2014) GERRY WEBER International AG has agreed to
acquire eight well established HOUSES of GERRY WEBER as well as 17
multi-label stores in Norway. Under the transaction structure, GERRY WEBER
will acquire 100 percent ownership of the Norwegian company operating the
stores. The purchase price amounts to a total of NOK 115.75 million
(approx. EUR 14 million). In addition, the parties have agreed an earn-out
clause providing for a maximum of NOK 20 million in extraordinary payments
subject to the attainment of certain pre-defined sales and earnings targets
in the financial year 2018.
The first franchisee-operated HOUSE of GERRY WEBER was opened in Norway in
2005 and the retail concept was steadily expanded in the ensuing years. All
eight stores acquired as well as the 17 multi-label stores operated under
the "Chantal" name are in prime locations in Norway.
The acquired companies will be fully consolidated by the GERRY WEBER Group
as of 1 June 2014. As of this date the vertically integrated stores will
fully count towards the Group's Retail segment. Local management will
remain in the competent hands of our proven Norwegian partner who will
continue to support our ongoing expansion in Norway. This transaction is
consistent with the GERRY WEBER Group's strategy of expanding its own
Retail operations in selected core markets across Europe.
"We see substantial potential for our three brand families - GERRY WEBER,
TAIFUN and SAMOON - in the Norwegian market. Between 10 and 15 new HOUSES
of GERRY WEBER are to be opened in Norway over the coming years. During
this time we will also expand the GERRY WEBER spaces in the acquired
multi-label stores and assess their potential for conversion into branded
GERRY WEBER Group stores," says Ralf Weber, the Managing Board member in
charge of Retail operations at GERRY WEBER International AG.
Listed on the Regulated Market of the Frankfurt Stock Exchange (Prime
Standard)
ISIN: DE0003304101
WKN: 330410
Investor Relations Contact
GERRY WEBER International AG
NeulehenstraÃe 8
D - 33790 Halle/Westphalia
Claudia Kellert Anne Hengelage
phone: +49 (0) 52 01-185 8422 phone: +49 (0) 52 01-185 8522
email: c.kellert@gerryweber.de email: a.hengelage@gerryweber.de
03.06.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Gerry Weber International AG
NeulehenstraÃe 8
33790 Halle/Westfalen
Germany
Phone: +49 (0)5201 185-0
Fax: +49 (0)5201 5857
E-mail: c.kellert@gerryweber.de
Internet: www.gerryweber-ag.de
ISIN: DE0003304101
WKN: 330410
Indices: MDAX
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard);
Freiverkehr in Berlin, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: GERRY WEBER acquires franchised HOUSES of GERRY WEBER in Norway
| Source: EQS Group AG