Fnac Darty finalizes the acquisition of MediaMarkt in Portugal
Ivry-sur-Seine, France —September 28, 2023
Fnac Darty finalizes the acquisition of MediaMarkt in Portugal
Following approval by the relevant authorities, Fnac Darty announces that it has finalized the acquisition of MediaMarkt in Portugal, in accordance with the terms announced on April 20, 2023, for completion on September 30, 2023.
MediaMarkt Portugal is a well-established electronics retailer, operating 10 stores and a webshop, with around 450 employees across the country. They offer an outstanding range of household appliances and technical products, with a wide range of references and a recognized service offering. In financial year 2021-2022, MediaMarkt Portugal recorded sales of c. €140 million.
With this acquisition, Fnac Darty consolidates its number 2 position in Portugal, a dynamic market for the Group. The operation is an opportunity to accelerate growth in its historic businesses, diversify and develop in the large and small domestic appliances categories, as well as strengthen its services and improve its global efficiency.
Enrique Martinez, Chief Executive Officer of Fnac Darty, stated that: "We are very pleased to finalize this acquisition in Portugal, a particularly dynamic European territory, and to welcome today to the Fnac Darty Group, 450 new employees, experts in electronics and household appliances segments. The acquisition of MediaMarkt enables our group to consolidate our technological expertise and strengthen our sales force to offer our Portuguese customers the most relevant range of product and services. We are thus strengthening our distinctive positioning to meet the challenges of purchasing power and responsible consumption."
MediaMarkt's business in Portugal will be 100% consolidated in Fnac Darty's accounts from October 1, 2023.
About Fnac Darty
Operating in 13 countries, Fnac Darty is a European leader in the retail of entertainment and leisure products, consumer electronics and domestic appliances. The Group, which has more than 25,000 employees, had a multi-format network of 987 stores at the end of December 2022, and is ranked as a major e-commerce player in France (close to 24 million unique visitors per month on average) with its three merchant sites, fnac.com, darty.com and natureetdecouvertes.com. A leading omnichannel player, Fnac Darty’s revenue was around €8 billion in 2022, 22% of which was realized online. For more information:
CONTACTS
ANALYSTES / INVESTORS Domitille Vielle
+33 (0)6 03 86 05 02
Laura Parisot
+33 (0)6 64 74 27 18
PRESSE Audrey Bouchard
+33 (0)6 17 25 03 77
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