Fnac Darty announced this Wednesday the completion of the acquisition of MediaMarkt Portugal, which has 10 physical stores and one virtual store and approximately 450 employees.
“Following the approval of the competent authorities, Fnac Darty announces that it has completed the acquisition of MediaMarkt in Portugal in accordance with the terms communicated,” he said in a statement, without disclosing the value of the transaction.
According to the same note, the company’s activities in Portugal will be fully consolidated in the Fnac Darty accounts from 1 October.
In the 2021-2022 financial year, MediaMarkt Portugal generated sales of approximately €140 million.
“We are very pleased to complete this acquisition in Portugal, a particularly dynamic European territory, and to welcome today 450 new employees to the Fnac Darty group, specialists in the electronics and home appliances segments,” the chief executive was quoted as saying in the statement. Fnac Darty President Enrique Martinez.
The official also said the purchase of MediaMarkt allows the group to consolidate technology skills and increase sales.
“In this way, we reinforce our special commitment to responding to the challenges of purchasing power and responsible consumption,” he emphasized.
On August 8, the Competition Authority (AdC) said it had no objection to Fnac’s purchase of MediaMarkt Portugal, given that the transaction was unlikely to create “significant obstacles to effective competition” in the market.
The purchase was announced on April 20.
Author: Lusa
Source: CM Jornal
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