Corporate | 2 October 2013 14:11

mutares AG: Agreement with Dixons Retail for the acquisition of PIxmania signed

Mutares AG / Key word(s): Acquisition

02.10.2013 / 14:11

mutares AG (‘mutares’), and Dixons Retail, Europe’s leading specialist electrical multi-channel retailing and services company, announce that, having completed consultations with the relevant works councils, both companies have now signed the agreement for the sale of PIXmania S.A.S to mutares A.G, a German listed industrial holding company.

As part of its purchase of PIXmania, mutares has developed a robust plan to build on PIXmania’s pure play e-commerce operations as well as to further develop its market-leading software platform. Completion of the transaction is expected to take place by the end of December 2013 after all conditions such as the approval of the relevant competition authorities have been met.

Commenting on the transaction, Aurélien Fauvel, head of mutares France, said:
‘I am very pleased that we are now able to proceed with this transaction following our very positive discussions with employee representatives. We firmly believe that PIXmania can achieve long term success and can look forward with confidence.’

Commenting on the transaction, Sebastian James, Group Chief Executive of Dixons, said:
‘I am delighted that we have been able to conclude consultations with the works councils so swiftly. This is testament to the strength of the plans that mutares has for the business, and to the vision that they were able to share with our colleagues at Pixmania. I believe that the company can now look forward to a robust future, and I look forward to watching it flourish under new ownership.’

For further information
Susanne Staudt
Investor Relations & Corporate Communications, mutares
+49 89 9292776-0

David Lloyd-Seed
IR, PR & Corporate Affairs Director, Dixons Retail
+44 1727 205065

Hannah Collyer
Head of Media Relations, Dixons Retail
+44 1727 203041

Tom Burns/Helen Smith
Brunswick
+44 20 7404 5959

Information about Dixons Retail
Dixons Retail is one of Europe’s leading specialist electrical retailing and services groups, employing 35,500 people in 14 countries. More than 100 million customers shop with us every year, online and in our c.1,100 stores.

Dixons Retail has built a successful and sustainable multichannel approach to electrical retailing. Focused on the customer, the business offers a comprehensive range of after sales services, including support from Knowhow, the UK’s leading provider of technology solutions, support, expertise and repairs. Business-to-business services are provided through PC World in the UK. As market leader in the Nordics, the business enjoys a superb reputation for first class customer service, a cost effective supply chain, strong retail sites across four countries and great supply relationships.

Dixons Retails’ brands include Currys, PC World and Knowhow in the UK and Ireland. Customers shop with Elkjøp, El Giganten, Giganti, Lefdal and Knowhow in the Nordic countries, UniEuro, PC City and No Problem in Italy, Kotsovolos in Greece, ElectroWorld in central Europe, and Pixmania.com across Europe. Aiming to deliver an unbeatable combination of Value, Choice and Service, the company is proud to stand shoulder-to-shoulder with millions of customers whilst delivering a truly multichannel shopping experience.

For more information about Dixons Retail plc, please visit www.Dixonsretail.com
Follow us on Twitter: @DixonsRetail

Information about mutares AG
mutares AG is an industrial holding company that focuses on acquiring companies in special situations, with the goal of providing in-depth operational support to its portfolio companies thus positioning them for long-term profitable growth. Entrepreneurship is the core of mutares’ business approach. This is reflected by a clear openness for unconventional solutions as well as our strong personal engagement and reliability. mutares prefers to invest in companies that have an established and proven business model combined with a strong brand. Management and employees of mutares’ portfolio companies are key to the change process in their organization as the Group’s success is dependent on their qualifications and engagement. Only by working together with the local teams can mutares create meaningful value.

For more information about mutares AG, please visit www.mutares.de/company/en

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