Dutch photo and video specialist Kamera Express has strengthened its position in Europe by acquiring the German Foto Gregor group, a chain with nationwide coverage in Germany.
First Benelux, now Germany
Kamera Express already operated German stores in Frankfurt and Hannover, and with the acquisition of Photo Gregor, it is adding another eight outlets. Those are located in Braunschweig, Bremen, Hamburg, Hanover, Cologne, Kiel, Lübeck and Munich. The transaction is subject to approval by the competition authority.
“Through the acquisition of Foto Gregor, we are adding eight physical stores to our portfolio with a strong brand name and an attractive national coverage. Combined with our growing online presence, this will allow us to continue our strong growth in the German market”, CEO Ben Cornelisse says.
Over the past decades, Kamera Express has already grown strongly in the Benelux. Recently, the photo and video specialist took over five branches of Photogalerie in Belgium and Luxembourg. After completing this latest transaction, Kamera Express will have 34 stores across four countries: thirteen in the Netherlands, ten in Germany, nine in Belgium and two in Luxembourg.