Today, BoConcept Danmark A/S has sold its nine BoConcept Brand Stores in
Copenhagen (Gl. Kongevej and ILLUM), Ishøj, Hillerød, Lyngby, Odense, Århus,
Vejle and Aalborg, respectively. With this, BoConcept continues its targeted
strategy of focusing on being concept and master right holder, while the
chain's brand stores are owned by individual franchisees.
The stores are sold to the newly established company Real Design A/S.
Initially, 25% of Real Design A/S is owned by Real Capital A/S, and the
remaining 75% is owned by BoConcept A/S. However, according to the agreement,
Real Capital A/S has an option to purchase BoConcept A/S' entire shareholding
in Real Design A/S in shares of 25% until 1 October 2014. The parties have
agreed not to publish any details of the purchase price.
Owner of Real Capital A/S, Niels Kruse, is appointed Managing Director of Real
Design A/S.
'For long I have been fascinated by BoConcept's products and business base, so
it pleases me to take over the nine BoConcept Brand Stores. The combination of
BoConcept's attractive franchise concept and my solid background in the
contracting and furniture business promises very well for the future
development of the stores, BoConcept and myself,' says Niels Kruse.
The master rights to the Danish market are still owned by BoConcept A/S, and
the two Danish stores in Herning and Roskilde are still owned by individual
franchisees.
Expectations to the 2010/2011 financial year are maintained
The sale of the nine BoConcept Brand Stores has no effect on the group's
expectations to the results of the 2010/2011 financial year as stated in
announcement 5/2010 of 25 August 2010.
Further information
For further information please contact President & CEO Viggo Mølholm or Vice
President & CFO Hans Barslund tel. +45 70 13 13 66
