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


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.

Amazon is working on domestic robot

24/04/2018

Amazon is secretly working on robots for consumers. According to press agency Bloomberg, the tech giant wants to trial the robots at their employees’ homes and wants to present its domestic robots in 2019.

Fnac Darty continues growth thanks to collaborations

23/04/2018

Electronics group Fnac Darty has achieved a small turnover growth in the first quarter of 2018. The group also says it took major steps in its recovery plan: before the end of 2018, it seeks 130 million euro in synergies.

‘Schnäppcam’ lures customers back to the store

16/04/2018

It seems a lost fight to compete with web shops, but not every retailer is simply throwing in the towel. A German household appliance seller has found an original way to entice customers.

Media Saturn launches first checkout-free store in Austria

12/03/2018

Saturn has opened Europe’s first checkout-free electronics store in Austria. The former Metro Group chain offers its customers traditional sales assistance, but payments have to happen using an app.