Paris, 1st July 2021
Bogart announces that it has signed on 30th June 2021, via its distribution subsidiary, APRIL SAS (April chain), a purchase agreement for the takeover of 41 businesses of Nocibé chain in France. This agreement follows the firm offer submitted on May, 21th 2021 (see press release).
As a reminder, the acquisition would offer to double the size of the April network in France and would increase the number of Bogart Group sales outlets in France from 30 to 71 while significantly expanding nationwide coverage (35 new towns and cities) and enhancing the reputation of the April chain and also improving the profitability of its network stores. The plan is fully in keeping with the Group's virtuous vertical integration strategy while showcasing once again Bogart's expertise as a manufacturer/retailer.
The deal remains subject to the waiver of usual conditions precedent and anti-trust authority approval. If all conditions are fulfilled and approvals obtained, the Company plans to integrate the new assets in October 2021. The Group will keep the market informed about any significant change to the proposed transaction in accordance with regulatory requirements.
General Meeting of Shareholders, 2nd July 2021 behind closed doors
Bogart Group will publish its first half 2021 turnover on 29 July 2021
Group website www.groupe-bogart.com
|BOGART GROUP||ACTUS finance & communication|