Darty France has completed the acquisition of leading French website, Mistergooddeal.com
Further to the announcement of 18 December 2013, Darty plc (the "Group") today confirms that through its subsidiary Etablissements Darty et Fils ("Darty France") it has completed the acquisition from M6 Group of 100 per cent of the share capital of Mistergooddeal.com, one of France's leading websites.
The purchase price of €2 million (subject to normal post-completion adjustments), will be paid in two installments in June and December 2014. As at 31 December 2013, Mistergooddeal's cash position was €5.2 million and equity €10.4 million(company's data).
Régis Schultz, Chief Executive, commented:
"The acquisition of Mistergooddeal.com provides us with a well known brand and a very good team. The acquisition enables us to address those customers not requiring the full Darty free service offer and the price entry end of the market.
"Darty's existing service infrastructure will be used to offer Mistergooddeal.com customers additional services on a pay as you go basis. This, together with Darty's superior buying terms and supply chain, is expected to create a profitable channel by year two of ownership."