Beter Bed Holding strengthens European position with acquisition of Sängjätten in Sweden
(Thomson Reuters ONE) -
* Sängjätten is a Swedish value-for-money retailer of box springs, beds and
bed textiles
* The acquisition of 25 Sängjätten stores gives Beter Bed Holding access to
the Swedish market
Beter Bed Holding announces that it has reached agreement in principle for the
acquisition of Sängjätten. This leading Swedish value-for-money retailer in box
springs, beds and bed textiles has 16 own stores in Sweden, 50 employees and
annual revenue of approximately ? 10 million. The company also has a franchise
network with nine stores at its disposal. The acquisition concerns the most
important assets of the company.
Ton Anbeek, Chief Executive Officer:
'We are pleased to announce the acquisition of Sängjätten. The company fits
perfectly into our European expansion strategy, and gives Beter Bed Holding
better access to the attractive Swedish market and more generally to the
Scandinavian market. With 25 stores at key Swedish retail locations, Beter Bed
Holding will be one of the leading players in the Swedish market. The
acquisition also gives us a platform for further expansion in Sweden in the
coming years.'
The Sängjätten formula corresponds with Beter Bed's business model and retail
format, meaning that operational, commercial and financial synergy can be
achieved. The Sängjätten stores will be gradually converted in the coming year.
The Sängjätten name will be retained.
Beter Bed Holding will finance the acquisition from its own resources. The
acquisition is expected to be finalised in the third quarter of 2016 and is
subject to certain suspensive conditions.
Profile
Beter Bed Holding is a European retail organisation that strives to offer its
customers a comfortable and healthy night's rest every night at an affordable
price. The company does this via stores and its own webshops through the
formulas:
* Matratzen Concord, located in Germany, Switzerland and Austria.
* Beter Bed, located in the Netherlands and Belgium.
* Beddenreus, located in the Netherlands.
* El Gigante del Colchón, located in Spain.
* Literie Concorde, located in France.
The retail formulas ensure products of good quality, offer better advice than
their competitors and always offer the best possible deal.
Beter Bed Holding is also active as a wholesaler of branded products in the
bedroom furnishing sector via its subsidiary DBC International. The
international brand M Line is sold in the Netherlands, Germany, Belgium,
Austria, Switzerland, Spain and France.
At the end of March 2016 the total number of stores was 1,151. In 2015, the
company achieved net revenue of ? 385.4 million. 70.1% of this figure was
realised outside the Netherlands.
Beter Bed Holding N.V. has been listed on the Euronext Amsterdam since December
1996 and its shares (BBED NL0000339703) have been included in the AScX Index.
For more information:
Ton Anbeek Bart Koops
Chief Executive Officer Chief Financial Officer
+31 (0)413 338819 +31 (0)413 338819
+31 (0)6 53662838 +31 (0)6 46761405
ton.anbeek(at)beterbed.nl bart.koops(at)beterbed.nl
Click for the Pdf version of the press release on the link below.
press release 3-6-2016.pdf:
http://hugin.info/132850/R/2017489/748609.pdf
This announcement is distributed by GlobeNewswire on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Beter Bed Holding NV via GlobeNewswire
[HUG#2017489]
Unternehmensinformation / Kurzprofil:
Datum: 03.06.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 475523
Anzahl Zeichen: 4244
contact information:
Town:
Uden
Kategorie:
Business News
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Die Pressemitteilung mit dem Titel:
"Beter Bed Holding strengthens European position with acquisition of Sängjätten in Sweden"
steht unter der journalistisch-redaktionellen Verantwortung von
Beter Bed Holding NV (Nachricht senden)
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