Gerry Weber International AG / Key word(s): Investment
31.07.2013 07:26
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: Majority investment in existing franchise stores in Belgium
(Halle/Westphalia, 31 July 2013) GERRY WEBER International AG has acquired
a majority stake in 19 established HOUSES of GERRY WEBER in Belgium. In the
context of the transaction, GERRY WEBER has acquired a 51% stake in the two
Belgian operating companies. In addition, a 51% stake in the sales rep
operations for the regions Belgium and Luxembourg has been acquired. The
purchase price for the majority investments totals EUR 7.97 million.
The acquired companies will be included in the consolidated financial
statements of the GERRY WEBER Group with effect from 1 August 2013. Except
for the sales rep operations, they will form part of the Retail segment.
According to the contractual provisions, GERRY WEBER International AG has a
preemptive right to acquire the remaining 49% from the year 2017.
After the majority takeover of 25 Dutch HOUSES of GERRY WEBER in the last
fiscal year, this is the second transaction in which the GERRY WEBER Group
acquired existing franchise stores in order to exploit their potential for
growth together with the local partners. The transaction underpins the
company's strategy to expand its own Retail operations in selected European
core markets.
'The GERRY WEBER, TAIFUN and SAMOON brands have been marketed in Belgium
for almost 25 years. The first HOUSE of GERRY WEBER was opened in Antwerp
in 2006 under the management of our Belgian partner. Today, our products
are sold by selected distribution partners as well as in 19 stores with a
total space of approx. 4,400 square metres. Further rental agreements for
three new HOUSES of GERRY WEBER have already been contracted. Our partner
will remain responsible for the local management of the stores and will
support our further expansion in Belgium,' said Gerhard Weber, CEO of GERRY
WEBER International AG.
About GERRY WEBER
With its five strong fashion brands - GERRY WEBER, GERRY WEBER EDITION,
G.W., TAIFUN and SAMOON by GERRY WEBER, GERRY WEBER International AG is one
of Germany's leading fashion and lifestyle companies.
Since its foundation in 1973, the company has developed into an
internationally active fashion group with around 800 HOUSES of GERRY WEBER
and mono-label stores worldwide, over 2,800 shop-in-shop areas and
successful online brand shops.
With around 4,700 employees around the world, the corporation has sales
structures in over 60 countries and is one of the best known and most
successful listed fashion companies in Germany. GERRY WEBER International
AG is listed on the MDAX on the German stock exchange.
Admitted to the Regulated Market of the Frankfurt Stock Exchange (Prime
Standard)
ISIN: DE0003304101
WKN: 330410
Investor Relations Contact
GERRY WEBER International AG
Claudia Kellert
Neulehenstrae 8
D - 33790 Halle/Westfalen
Tel.: +49 (0) 52 01-185 8422
E-mail: c.kellert@gerryweber.de
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Language: English
Company: Gerry Weber International AG
Neulehenstrae 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 Dsseldorf, Frankfurt (Prime Standard);
Freiverkehr in Berlin, Stuttgart
End of Announcement DGAP News-Service
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Originally posted here:
The post DGAP-Adhoc: Gerry Weber International AG: Majority investment in existing franchise stores in Belgium appeared first on Arne Ruhnau News.
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