DSG International makes £16m acquisition
Herts-based DSG International’s global expansion drive is continuing at full throttle pace with a £16 million European acquisition that gives it the lead in the Danish consumer electronics market.
Following just a few weeks on from the £179m purchase of French retailer, Fotovista, DSG has agreed to take a 40 per cent stake in Denmark’s F-Group for a consideration of 175 million Danish Kroner (£16m).
Under the terms of the transaction, which is subject to European Competition Authority approval, DSG will acquire a 40 per cent stake in the business from Industri Kapital, a Pan-European private equity
The agreement features a call option to buy the remaining 60 per cent stake from current owner, the Kjaer family, in early 2010. F-Group trades in Denmark through a network of five Electric City superstores and 64 Fona High Street stores and employs 850 people. It also runs a network of product repair centres.
Turnover for year ending 30 September 2005 was approximately 2 billion Danish Kroner (£180m).