DK Company buys three brands from Scandinavia's BTX
BTX Group has entered into agreement to sell the Young, Modern and Retail Norway divisions to DK Company A/S, which will consequently become one of the Nordic region's leading fashion groups. The transaction gives BTX Group the opportunity to focus on its market-leading core business within adult fashion in the Classic division.
The transaction includes BTX Group's Young and Modern divisions, which among other things includes the brands b.young, Blend, Fransa, Ichi, FQ1924, Dranella and Gestuz as well as the retail concepts b.young and Fransa including the Retail Norway division with approx. 150 shops.
In 2011, the mentioned activities had a turnover of DKK 1.4 billion and approx. 450 employees. The take-over date is expected to be 1 July 2012. “We are pleased that the take-over agreement for the three BTX divisions has been satisfactorily negotiated. We see the transaction as a natural extension of the positive development we experience in DK Company. In our Trend division we already have successful brands such as Kaffe, Cream, Karen by Simonsen and Kön & Mön."
"We are strengthening this division with BTX's portfolio of brands. At the same time, we will gain a leading position as the third-largest fashion group in Denmark and will be a strong partner in relation to the retail segment. We have significant experience in integrating acquired brands and we look forward to welcoming new and skilled employees from BTX. There is tremendous potential in developing the business further by integrating the best from both organisations and gaining new joint strength."
"With the take-over of the many retail shops, we will also get a unique opportunity to develop our retail concept. The 150 shops in Norway in particular, will cement our position on the extremely important Norwegian market,” says Jens Poulsen, founder and CEO of DK Company A/S.
For BTX Group, the transaction also gives new perspectives: “The combination of our Young and Modern activities with DK Company's similar activities has a strong industrial rational and will provide the best possible basis to target the further development of the brands towards younger segments. At the same time, it allows us at BTX Group to focus 100% on our Classic division, which over a number of years has had strong growth."
"With brands such as Brandtex, Imitz, Jensen Women, Signature and Ciso our Classic division currently stands as the leading player in Scandinavia within adult fashion for women and it is a position we look forward to expanding further”, states Jesper Roe, CEO for BTX Group. The transaction is contingent on approval from the competition authority.
DK Company A/S is a fast-growing Danish fashion group, which since its establishment in 2001 has developed into one of Denmark's leading suppliers of international fashion brands, lifestyle brands and children's fashion through a combination of acquisitions and organic growth. The activities include brands such as Kaffe, Cream, Karen by Simonsen, Kön & Mön, Blue Willi's, etc. In the 2010/2011 financial year, the company had a turnover of DKK 800 million and profit performance of DKK 96 million.
BTX Group is one of Scandinavia's largest fashion groups with a number of strong brands such as Brandtex, Jensen Woman, Imitz, Signature, Fransa, Ichi, Blend, b.young and Gestuz. The company has a solid position on the Scandinavian market in particular and in 2011 had a turnover of DKK 2 billion and profit performance of more than DKK 100 million.