October 01, 2010 | by Valora Holding AG
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October 01, 2010, Valora Retail Germany successfully completed its acquisition of tabacon Franchise GmbH & Co. KG on October 1, 2010, having recently obtained approval from the Bundeskartellamt, Germany’s independent competition authority, as expected. The integration of tabacon’s existing chain of more than 180 sales points will increase the size of Valora Retail Germany’s overall outlet network to some 380 units, located at railway stations, airports, shopping centres and department stores, thus securing the firm a place among the country’s leading small-outlet retailers.
The acquisition of tabacon Franchise GmbH & Co. KG is a decisive step for Valora’s Retail division. Integrating tabacon’s existing staff into its operations will also enable Valora to take on an established, efficient franchise model, offering major opportunities as a platform from which to expand its non-travel retail operations. As a result of this purchase, Valora’s Retail Germany’s division now operates 201 specialist press outlets in non-travel-related locations, and the new tabacon network extends across all of Germany. The 178 travel retail outlets Valora currently operates at railway stations and airports already make it Germany’s leading railway station bookseller.
The acquisition, which exemplifies Valora’s strategic direction, has been entirely financed by cash generated from the Group’s regular operations. As Thomas Vollmoeller, CEO of the Valora Group puts it, “This transaction not only enables us to double the size of our outlet network in Germany, but will also significantly extend our areas of expertise and create further potential for growth in our core businesses.”
Contact
Valora Holding AG Hofackerstrasse 40 4132 Muttenz Schweiz T.: 058 789 12 01 F.: 058 789 12 12 E.: stefania.misteli@valora.com U.: www.valora.com
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Source: Valora Holding AG, Press release