ROCHE BOBOIS (EPA:RBO) CONTINUATION OF THE TARGETED CONSOLIDATION STRATEGY - ROCHE BOBOIS STRENGTHENS POSITIONS IN FRANCE WITH THE ACQUISITION OF 13 FRANCHISED STORES
Transparency directive : regulatory news
Paris, 19 July 2023
Roche Bobois SA (ISIN: FR0013344173 – Ticker symbol: RBO), global benchmark in the high-end furniture market and the epitome of French Art de Vivre, announces the conclusion of two structuring acquisitions by the Group for a total of 13 franchised stores in France (12 in the Northern part of France and 1 in Brittany) representing total retail sales of around €21m excluding VAT. With these two deals, Roche Bobois SA is significantly strengthening its domestic presence and illustrating its ability to be omnipresent in France and internationally to best meet customer needs.
Significant consolidation of positions in the North of France
Roche Bobois has signed an agreement to acquire 12 stores in the Hauts-de-France region and in Champagne, held via companies by the same family-run franchise, and including 5 Roche Bobois stores (Seclin, Lille, Le Tourquet, Ameins, Reims) and 7 Cuir Center stores (Seclin, Valenciennes, Capinghem, Noyelles-Godault, Béthune, Amiens and Reims). These stores benefit from a very structured organisation with the support of their own logistics and administrative department to serve the region. Roche Bobois will not be the owner of the premises.
This group of stores generated around €18m in retail sales excluding VAT in 2022 with sound profitability. Note that France's fourth largest city with 1 million inhabitants, Lille alone - via two Roche Bobois stores and two Cuir Center stores - represents half of the overall retail sales amount.
In this way, Roche Bobois is significantly consolidating its footprint in the North of France and has already identified strong upside potential for retail sales and profitability with the necessary store redevelopment work.
These very earnings-enhancing acquisitions for the Groupe (in terms of sales and profitability) should be effective by 30/04/2023.
Buyback of a franchisee in Rennes
At the same time, Roche Bobois is buying back an existing Roche Bobois store in Rennes (taking over the business, stocks and personnel). Installed in Chapelle-des-Fougeretz since 1987, the store is ideally located on the “Route du Meuble”, (the Furniture Route) close to the rocade. With a retail sales area of 1,200 m² as well as an additional 1,000 m² in warehousing space, this store is particularly profitable and generates annual retail sales excluding VAT of €2.9m. This store will be integrated in the Grand Ouest (Western France) regional division with synergies identified in organisational and logistic terms with Le Havre, Rouen, Nantes and Tours. Roche Bobois plans to carry out redevelopment work to further enhance this store's potential. This deal should be completed by 15/04/2023. Roche Bobois will not be the owner of the premises.
Next release: Annual revenue: 26 January 2023
| About ROCHE BOBOIS SA ROCHE BOBOIS SA is a French family business founded in 1960. The Group operates in 54 countries and has a network of 333 owned stores and franchises (at 31 December 2022) marketing its two brands: Roche Bobois, a high-end furniture brand with a strong international presence, and Cuir Center, positioned in the mid-range market segment with an essentially French customer base. Through its Roche Bobois brand, the Group embodies the French Art de Vivre whose presence can now be felt on the world stage, with original and bold creations from talented designers (Bruno Moinard, Jean Nouvel, Ora Ito, Sacha Lakic, Christophe Delcourt, Stephen Burks, Kenzo Takada, Bina Baitel, etc.) and partnerships with fashion and haute couture houses. Roche Bobois is also a committed partner in the world of culture and the arts. Including franchises, these two brands posted 2021 retail sales of €639.6 million excluding VAT, to which Roche Bobois contributed €532.4 million and Cuir Center €107.2 million. Roche Bobois SA's consolidated revenue in 2021 was €334 million. For more information please visit www.finance-roche-bobois.com |
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Full and original press release in PDF: https://www.actusnews.com/news/78086-cp_roche-bobois_rachat_france_vdef-en_gb.pdf