Herning, Denmark, 2013-04-09 13:34 CEST (GLOBE NEWSWIRE) -- BoConcept A/S (BoConcept) has today executed an agreement to acquire the master rights to the BoConcept brand in China from the Trayton Group (Trayton), which will take effect on 1 May 2013. At the same time, BoConcept and Trayton will set up a new joint Chinese company to ensure the distribution, support and development of existing and new stores in China by combining BoConcept's expertise in optimising retail chain operations and Trayton's considerable knowledge of the Chinese market.
The joint venture will take over Trayton's six existing stores; the remaining nine stores in China will continue to be run by independent franchisees. BoConcept's ownership share will be 85%, with the Trayton Group holding the remaining 15%. The parties have agreed not to publish the purchase price.
The acquisition of the master rights to the brand and the establishment of a new dedicated market organisation in China is intended to ensure efficient implementation of the full concept and thus accelerate expansion and growth in the Chinese market, which is deemed to hold considerable potential for BoConcept.
The agreement with Trayton on master rights and the establishment of the new joint venture will have no impact on the management's expectations for the group's financial results in the 2012/2013 financial year as expressed in announcement No. 2/2013.
For further information, contact CEO Torben Paulin or CFO Hans Barslund on tel. +45 7013 1366.
