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Gerry Weber buys stake in existing stores in Netherlands
03
Sep '12
Gerry Weber International AG and its largest Dutch franchise partner have agreed that GERRY WEBER acquires 51% in the franchise partner's local Houses of Gerry Weber and the concession stores. The Gerry Weber Group will thus acquire a majority stake in 25 existing Houses of Gerry Weber and 15 concession stores in the Netherlands.

The parties agreed not to disclose any information on the purchase price of the 51% stake. The two Dutch operating companies will be fully consolidated in the financial statements of the Gerry Weber Group and be assigned to the Retail segment. According to the contractual agreements, the Gerry Weber Group has the preemptive right to acquire the remaining 49% from the year 2017.
 
The acquisition and integration of the existing 6,000 square metres of sales space into the company's own Retail segment fit in with the Gerry Weber Group's strategy of expanding its Retail activities also in the foreign core markets.
 
'We are not only acquiring a very profitable network of well-established Houses of GERRY WEBER but will also benefit the growth potential of one of our most important European markets. Local management will remain in the hands of our experienced franchise partner, who will support our ongoing expansion in the Netherlands,' said Gerhard Weber, CEO of Gerry Weber International AG. Agreements for further Houses of Gerry Weber as well as concession stores have already been reached by our franchise partner for the financial years 2013 and 2014. 

Gerry Weber


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