SuperGroup announces that it has purchased the SMAC Group, which consists of SMAC A/S, SMAC Retail A/S and SMAC Norge A/S, its successful and long term Scandinavian distributor. This purchase returns to SuperGroup the rights to trade the Superdry brand in Denmark, Norway and Finland, and welcomes a strong team from SMAC, led by Stine Elmkvist and Lars Thygesen, into the SuperGroup family.
The acquisition of the distribution rights will assist the Group in meeting its ambitious plans for the region, by freeing it to invest its own capital in the store roll-out, improve margins on the wholesale operation and retain local operational and management expertise. Based in Aarhus, Denmark, SMAC has a footprint of 4 owned Retail stores, 8 Franchise stores and a thriving wholesale business.
The business was purchased for an undisclosed sum, and paid for in cash from internal resources.
Julian Dunkerton, CEO of SuperGroup, said, “The acquisition of our Scandinavian partner follows the purchase of the Spanish and German distributors last year. Our Pan-European strategy is progressing well and we will provide an update on developments at the time of our prelims on July 10. We remain fully focussed on maximising the global opportunity for the SuperDry brand.”