EANS-News: Valora Holding AG
Valora Retail successfully completes acquisition
of tabacon Franchise GmbH & Co. KG
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Joint Ventures/Cooperation/Collaboration/Valora Holding AG
Valora Retail successfully completes acquisition of tabacon Franchise GmbH & Co. KG - Bundeskartellamts approval granted - Valora´s expanded network of some 380 units makes it one of Germany´s leading small-outlet retailers - Transaction raises the firm´s non-travel retail market profile
Valora Retail Germany successfully completed its acquisition of tabacon Franchise GmbH & Co. KG on October 1, 2010, having recently obtained approval from the Bundeskartellamt, Germany´s independent competition authority, as expected. The integration of tabacon´s existing chain of more than 180 sales points will increase the size of Valora Retail Germany´s overall outlet network to some 380 units, located at railway stations, airports, shopping centres and department stores, thus securing the firm a place among the country´s leading small-outlet retailers.
The acquisition of tabacon Franchise GmbH & Co. KG is a decisive step for Valora´s Retail division. Integrating tabacon´s existing staff into its operations will also enable Valora to take on an established, efficient franchise model, offering major opportunities as a platform from which to expand its non-travel retail operations. As a result of this purchase, Valora´s Retail Germany´s division now operates 201 specialist press outlets in non-travel-related locations, and the new tabacon network extends across all of Germany. The 178 travel retail outlets Valora currently operates at railway stations and airports already make it Germany´s leading railway station bookseller.
The acquisition, which exemplifies Valora´s strategic direction, has been entirely financed by cash generated from the Group´s regular operations. As Thomas Vollmoeller, CEO of the Valora Group puts it, "This transaction not only enables us to double the size of our outlet network in Germany, but will also significantly extend our areas of expertise and create further potential for growth in our core businesses."
*** tabacon Franchise GmbH & Co. KG Tabacon Franchise GmbH & Co. KG has been one of the main tobacco retailers in Germany for many years, pioneering the franchise concept in this market segment. Its former owner, Tabacon Holding, one of Germany´s largest tobacco products wholesalers, will now increasingly focus on its wholesaling activities. ***
end of announcement euro adhoc
Further inquiry note:
Investor Relations: Tel: +41 58 789 12 20
Mladen Tomic E-mail: mladen.tomic@valora.com
Media Relations: Tel: +41 58 789 12 01
Stefania Misteli E-mail: stefania.misteli@valora.com
Branche: Retail
ISIN: CH0002088976
WKN: 208897
Börsen: BX Berne eXchange / stock market
SIX Swiss Exchange / Main Standard