Beter Bed Holding strengthens European position with acquisition of Sängjätten in Sweden
03 Juin 2016 - 08:00AM
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Sängjätten is a Swedish
value-for-money retailer of box springs, beds and bed
textiles
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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@beterbed.nl |
bart.koops@beterbed.nl |
Click for the Pdf version of the press release on
the link below.
press release
3-6-2016.pdf
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Beter Bed Holding NV via Globenewswire
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