EV Retail, a subsidiary of British general merchandise value retailer B&M European Value Retail, has acquired the entire issued share capital in discount general merchandise retailer Paminvest SAS for $105.14m.
Paminvest currently operates 95 stores under Babou Stores Group banner in the country.
Go deeper with GlobalData
The total value of the transaction was paid in cash, which was financed by an additional loan facility and includes the debt of the Babou Stores Group refinanced by B&M.
The deal will enable B&M to develop and grow its presence, as well as its value retail model in France.
The British retailer will apply B&M’s direct product sourcing and limited assortment SKU model to Babou’s store in a more to refine the latter’s product offering.
B&M CEO Simon Arora said: “B&M has made no secret of its European growth plans since its IPO in 2014. We are delighted that discussions with Babou over a three year period have led to today’s transaction, which provides us with a platform for future growth in a large and attractive market whilst also providing a stable and logical new owner for Babou.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData“We would like to welcome all Babou’s employees and stakeholders to the wider B&M family and look forward to a successful future together.”
In addition, Babou Stores Group CEO Thierry Morter will retire from his role effective immediately and will be succeeded by Cedric Mahieu.
Babou offers a range of products including 30,000 general merchandise, seasonal and textiles SKUs across its discount retail stores.
