VIENNA, June 25, 2018 /PRNewswire/ --
- SIGNA signs contracts for acquisition of kika/Leiner
- Acquisition ensures the continuation of the traditional company and provides an Austrian solution
- Comprehensive restructuring and future concept will be developed and brings sustainable prospects for the company and employees
The SIGNA Group has signed the contracts for the acquisition of kika/Leiner. The contracts between SIGNA and the Steinhoff Group were signed on Thursday, 21 June 2018, after intensive negotiations, and include the operative retail business, with its approximately 6,500 employees, as well as the approximately 100 properties in Austria and CEE. The acquisition ensures the continuation of the traditional company kika/Leiner and provides an Austrian solution.
"After very extensive and intensive negotiations over the last few days, we were able to sign all contracts for the acquisition of kika/Leiner today. kika/Leiner is facing profound and comprehensive changes to improve and secure the future of the company in a sustainable way," says SIGNA Managing Director Christoph Stadlhuber.
"After approval by the relevant antitrust authorities, a comprehensive restructuring and future concept will be developed together with the management. All structures and processes will be reviewed and improved for the future," said Dr. Stephan Fanderl, CEO of SIGNA Retail. "Parallel to that, all efforts must be focused on improving operations and increasing store profitability," said Fanderl.
For the SIGNA Retail Group, the takeover of kika/Leiner, in addition to its successful retail interests in Germany and in European sports e-commerce, also marks the company's entry into brick-and-mortar retail in Austria for the first time.
The acquisition is subject to antitrust approval. The real estate properties are also subject to a confirmatory due diligence.
The SIGNA Group is a completely privately managed industry holding company active in the real estate and retail sectors. The company is one of the most important real estate investors in Europe, with more than EUR 12 billion in real estate assets and an additional development volume of around EUR 8 billion. With more than 25,000 employees and more than EUR 4.5 billion in sales, it operates well-known retail companies. The Group has two central core business sectors: SIGNA Real Estate and SIGNA Retail.
The SIGNA Retail Group includes the four independent retail platforms SIGNA Department Store Group, SIGNA Premium Group, SIGNA Sports Group and SIGNA Food & Restaurants Group, which have around 200 locations in the best city centres and more than 100 online store in 20 countries, contributing to the strong growth of the SIGNA Retail Group in Europe. The focus is on the consistent further development of the omni-channel strategies of the individual commercial platforms. More info at http://www.SIGNA.at.