English
Advent International will acquire German clothes retail chain Takko from Permira Group and expand it on Eastern European markets including Romania, Bulgaria and Poland. Advent International will pay 770 million EUR (1.05 billion USD) for Takko and plans to open 150 new stores under this brand. Takko has some 9,000 employees and 1,059 stores worldwide.
"Our medium-term strategy is to accelerate our expansion in Eastern European countries with a high economic potential, such as Romania, Bulgaria and Poland and also to expand our franchise system," said Takko Executive Manager Arnold Mattschull. Other targets include Sweden, Spain, Portugal and France.
Takko, based in Telgte, was established in 1982 and has became the second largest clothes retailer in Germany. The company owns 210 stores in Austria, the Czech Republic, Holland, Hungary and Slovakia and 13 franchises in Slovenia, Lithuania, Estonia and Latvia. Estimates for the 2007/2008 year include sales of 800 million EUR.
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