Darty Subsidiary Acquires French Deals Website

LONDON (Alliance News) - Darty PLC said Tuesday that its French subsidiary, Etablissements Darty ...

Alliance News 1 April, 2014 | 9:48AM
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LONDON (Alliance News) - Darty PLC said Tuesday that its French subsidiary, Etablissements Darty et Fils, known as Darty France, has acquired French website Mistergooddeal.com.

Darty France has completed the acquisition of 100% of the share capital of Mistergooddeal.com, a French deals website, from M6 Group in a EUR2 million cash deal.

The EUR2 million will be paid in two installments in June and December 2014, said the firm.

"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," said Régis Schultz, Darty Chief Executive.

As at December 31, 2013, Mistergooddeal's cash position was EUR5.2 million and equity of EUR10.4 million.

Shares in Darty were trading 0.69% lower at 116.69 pence per share Tuesday morning.

By Alice Attwood; aliceattwood@alliancenews.com; @AliceAtAlliance

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