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Darty closes acquisition of French Mistergooddeal.com.

MANews-(C)2009-2014

1 April 2014 - UK electrical retailer Darty Plc (LON:DRTY) has closed the acquisition of French website Mistergooddeal.com from TV programmes producer and distributor M6 Metropole Television SA (EPA:MMT), or M6 Group, for EUR2m (USD2.8m), the two companies said today.

Darty executed the deal through its subsidiary Etablissements Darty et Fils, or Darty France, the buyer explained. The purchase price is subject to customary post-closing adjustments and will be paid in two tranches in June and December 2014.

Darty's existing service network will be used to provide Mistergooddeal.com customers with new services on a pay as you go basis, which, coupled with Darty's buying terms and supply chain, is seen to result in a profitable channel by the second year of ownership, CEO Regis Schultz, said in a statement.

Mistergooddeal.com, with around 170 employees, sells white goods, multimedia, furniture and leisure products. The website, launched in 2000, had revenue revenue of EUR121.2m and EBITDA of EUR3.9m for the year through December 2013, according to a statement by the buyer.

M6 intends to further develop a distance selling business centred on home shopping and focused e-commerce websites, the company said on 18 December last year when it announced the beginning of negotiations with Darty.

Country: France

Sector: Wholesale/Retail, IT/Online Services

Target: Mistergooddeal.com

Buyer: Etablissements Darty et Fils (Darty France), Darty Plc

Vendor: M6 Metropole Television SA (M6 Group)

Deal size in USD: 2.8m

Type: Corporate acquisition

Status: Closed

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Publication:M & A Navigator
Geographic Code:4EUFR
Date:Apr 1, 2014
Words:251
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