Destination Maternity proposes merger with Mothercare

Commenting on the proposal, Ed Krell, Chief Executive Officer and a Director of Destination Maternity, said, "We believe there is a compelling strategic rationale for a combination of Destination Maternity and Mothercare, which would create the undisputed global leader in maternity, baby and young children's apparel and products. Mothercare and Destination Maternity are highly complementary businesses, with strong and trusted brands in their respective markets. Together, a combined company would provide a global platform to expand both Destination Maternity's maternity apparel business and Mothercare's baby and children's business. This is consistent with Destination Maternity's stated strategic objective to enhance our position as a global leader in maternity apparel, including through international expansion."

 

Destination Maternity Corporation is making an announcement as required by the UK Takeover Code in light of the recent press speculation in respect #

"We have long been familiar with Mothercare and hold the company's UK heritage and successful track record of international expansion in the very highest regard. We believe the combination would create a highly attractive opportunity to accelerate the growth and development of both businesses and generate substantial value for our respective shareholders. Given this, we are seeking to engage with the Board of Mothercare on a constructive basis with the goal of completing a recommended transaction."

 

Destination Maternity Corporation is making an announcement as required by the UK Takeover Code in light of the recent press speculation in respect #