Paris, 9 September 2022
Roche Bobois SA (ISIN: FR0013344173 - Ticker symbol: RBO), high-end furniture global market leader and the name behind the French Art de Vivre, announces it has exercised a unilateral purchase option for three franchised stores located in Atlanta, Houston and Dallas in the United States.
This purchase option, which was scheduled to have an exercise right deferred over the period from January 2022 to June 2023, is part of the Share Purchase Agreement (SPA) signed in November 2020 under which Roche Bobois committed to a two-phase acquisition of six stores. The Group consolidated three initial stores located in San Francisco, Seattle and Portland at the date of signature of the SPA.
As part of this acquisition, Roche Bobois will take over the entirety of the business, inventories and staff of the three stores based in Atlanta, Houston and Dallas. The Group will operate these 3 showrooms with a total surface area of 2,500 m2, without, however, owning the premises.
With this acquisition, Roche Bobois SA confirms its strategy to establish a strong regional presence in the United States, the largest contributing country to revenue and significantly value-creating for the Group with very high EBITDA, in line with the brand's standards in the United States.
In 2021, these three stores reported retail sales of US$11.6m (up 54% versus the 2020 financial year). The Group plans to carry out development work to further enhance the potential for retail sales and profitability in its three stores.
This accretive acquisition, which will be completed in the coming three months, will have a positive effect on growth in revenue and on the Group's consolidated EBITDA margin as of 2023.
Change of date - Next releases :
First-half 2022 results on 13 September 2022 after market close
|About ROCHE BOBOIS SA
ROCHE BOBOIS SA is a French family business founded in 1960. The Group operates in 55 countries and has a network of 336 owned stores and franchises (at 30 June 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/76159-pr_roche_bobois_franchise_usa.pdf