UK: SuperGroup buys Scandinavian distributor SMAC
SuperGroup bought SMAC Group for for an undisclosed sum
UK fashion retailer Supergroup, owner of the Superdry brand, has acquired its Scandinavian distributor, the SMAC Group, for an undisclosed sum.
The deal comprises SMAC, SMAC Retail and SMAC Norge. It also returns to SuperGroup the rights to trade the Superdry brand in Denmark, Norway and Finland.
The acquisition will see the apparel group take on a team from SMAC, led by Stine Elmkvist and Lars Thygesen.
SuperGroup said the purchase of the distribution rights will assist it in meeting its ambitious plans for the region, by freeing the company to invest its own capital in the store roll-out, improve wholesale margins and retain local operational and management expertise.
Based in Aarhus, Denmark, SMAC has a footprint of four owned retail stores, eight franchise stores and a wholesale business.
"The acquisition of our Scandinavian partner follows the purchase of the Spanish and German distributors last year," said SuperGroup CEO Julian Dunkerton. "Our pan-European strategy is progressing well."
Investec analyst Kate Calvert points out that the acquisition means SuperGroup now control most of the Western European seaboard - which in turn increases its organic European roll-out opportunity.
"The long term growth story looks very much intact, with material opportunity to extend the brand, grow online and internationally," she notes.
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