DGAP-News: ARQUES sells Golf House after successful restructuring
(firmenpresse) - ARQUES Industries AG / Miscellaneous
12.07.2010 08:43
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
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Munich, July 12, 2010. ARQUES Industries AG has sold Golf House, the
leading specialist dealer and mail order business in the German golf
market, to a strategic consortium consisting of the JAB Anstoetz Group as
well as Peter Wolf, former executive board member of Tchibo and ex CEO of
Karstadt. The purchase price is at appropriate market and industry
multiples. The parties agreed not to disclose contract details.
Golf House was taken over by ARQUES in June 2005 for a symbolic price from
the erstwhile KarstadtQuelle AG and fundamentally restructured. By means of
establishing strong relationships with manufacturers, suppliers and golfers
worldwide, as well as the consistent restructuring of processes and
distribution channels, Golf House became the market leader within its
industry. Meanwhile the product and service ranges are available in
14 branches as well as via mail order and the Golf House Webshop. The
company's profitability and earning power have improved continuously.
Before the take-over by ARQUES, the enterprise which was founded in 1976 as
a mail order business, belonged to the KarstadtQuelle Group (Essen) for
four years. The KarstadtQuelle Group sold its shares as part of a
disinvestment programme.
'After the British School of Motoring, Autowindscreens and Fritz Berger, we
have managed to sell another successfully restructured company from the
ARQUES portfolio with added value within the last seven months. Based on
its strong market position and the strategic goals of the group of
investors, we are convinced that Golf House will continue to develop
successfully in future', said Hans Gisbert Ulmke, chairman of the ARQUES
Industries AG executive board.
About ARQUES:
ARQUES Industries AG is an equity investment company focusing on the
restructuring of companies in transitional situations. ARQUES develops
these companies, mainly acquired within the context of company spin-offs,
to competitive enterprises with a positive yield in order to sell these
afterwards with added value.
The shares of ARQUES Industries AG are traded in the Prime Standard of the
Frankfurt Stock Exchange. Symbol: AQU, ISIN: DE0005156004.
12.07.2010 08:43 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: ARQUES Industries AG
Arnulf Office Park - Arnulfstraße 37-39
80636 München
Deutschland
Phone: +49 89/255500-0
Fax: +49 89/255500-200
E-mail: wiedemannn(at)arques.de
Internet: www.arques.de
ISIN: DE0005156004
WKN: 515600
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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Datum: 12.07.2010 - 08:43 Uhr
Sprache: Deutsch
News-ID 23725
Anzahl Zeichen: 0
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Kategorie:
Business News
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