Fnac tables bid for Darty to form French market leader | RetailDetail

Fnac tables bid for Darty to form French market leader

Fnac tables bid for Darty to form French market leader

French electronics chain Fnac has tabled a bid for its Franco-British competitor Darty, which also owns the chains Vanden Borre in Belgium and BCC in the Netherlands. If the deal is approved, the new company would become France's largest electronics group.

Turnover doubled

Fnac has offered 535 million pounds (720 million euro) for Darty, 25 % more than its shares were worth when the stock exchange closed on Tuesday. The aim is to complete the deal entirely in shares: Fnac wants to offer one of its shares for each 39 Darty shares.

 

If it managed to acquire Darty, Fnac's store number would triple instantly, adding 400 Darty stores to its current number of 186. Turnover on the other hand would nearly double: Fnac managed a 3.9 billion euro turnover in 2014, while Darty reached 3.5 billion euro.

 

"Fnac believes the combination of Fnac and Darty would be an interesting strategic and financial opportunity for both groups as it would result in a leader in the French electronics and household appliances market", according to Fnac's press release. Officially British, Darty is originally a French company and is also mostly active in that country, with more than 200 stores. It also has stores in Belgium, Italy, the Netherlands, Spain and Turkey.

Questions or comments? Please feel free to contact the editors


Ceconomy sells its Russian division

21/06/2018

Ceconomy, MediaMarkt's parent company, has sold its onerous Russian division to local electronics chain M.video. The German electronics giant does not quit Russia altogether however, as it continues as shareholder of M.video.

LVMH's Bernard Arnault invests in refurbished phones

14/06/2018

BackMarket, a French start-up that wants to be a marketplace for refurbished smart phones, tablets and laptops, has secured a 41 million euro investment. The most famous new investor is Bernard Arnault, CEO of luxury group LVMH.

Coolblue closes hundreds of web shops

11/06/2018

Dutch e-commerce group Coolblue has terminated hundreds of its web shops, instead preferring one central web shop at coolblue.be/nl. This may be the precursor to an international expansion, the company says.

Xiaomi's European conquest goes through Paris

23/05/2018

Chinese smartphone manufacturer Xiaomi just opened a physical store in Paris, part of its ambitious European expansion plan. The brand is also dreaming of an American launch.

Fnac Darty and MediaMarkt Saturn enter purchase alliance

16/05/2018

French electronics retailer Fnac Darty has set up a purchase alliance with competitor MediaMarkt Saturn. Both companies will buy together when it comes to the European retail market.

Amazon looking to outbid Walmart in Flipkart deal

03/05/2018

The battle for dominance on the Indian e-commerce market seems to be stepping up a notch: Amazon may be looking to buy a majority stake in Flipkart, trying to better Walmart which already started negociations with the Indian online retailer.