Today, BoConcept A/S acquired 62 percent of the shares in BoConcept Danmark A/S
and through this the master rights for the BoConcept brand in Denmark. The
parties have agreed not to pub-lish the purchase price.
BoConcept Danmark A/S is the master franchisee of the global BoConcept brand in
Denmark. In addition to being master of the Danish franchise stores, the
company operates two stores in Aar-hus and Odense, respectively. Today, the
company has taken over three stores from the insol-vent estate of a franchisee
in Copenhagen, who went into liquidation in February. The three stores, which
are located on Gl. Kongevej and in Ishøj and Lyngby, respectively, will be
re-opening for business on Friday 3 April, thereby enabling our customers in
Copenhagen to buy BoConcept furniture locally again.
The acquisition of BoConcept Danmark A/S is in line with the group's strategy
of owning the master rights of all essential markets. The group's acquisition
of the master rights ensures a more efficient and simple implementation and
support of the concept in relation to the different franchisees. Further, this
new setup renders possible a number of cost synergies as master office and HQ
now have the same location.
As a result of the acquisition of the majority of shares in BoConcept Danmark
A/S, the number of BoConcept Brand Stores owned by the group is increased by
five from 16 to 21 stores located in six countries. The total number of
BoConcept Brand Stores worldwide is 251.
The contents of this announcement will not affect the group's expectations for
the financial year 2008/2009.
For further information, please contact President Viggo Mølholm or Vice
President Hans Barslund on tel. +45 7013 1366.
