Officials from the largest British video games retailer Game have announced that the company has signed an unconditional agreement to acquire French games retailer Addon for €6.2 million ($7.5m).
The acquisition will provide Game with a total of ten leasehold properties, with a market value of around €2 million ($2.4m), plus an additional ten franchise stores. The company already has seventy-eight shops in France, with the new additions from Addon situated in areas not covered by existing stores.
"This acquisition gives further momentum to our European expansion strategy, and ensures that we will have over 100 owned stores trading in France for the key Christmas trading period. The acquired business has an existing customer base in locations where GAME is not currently well represented”, said GAME CEO Martin Long. "As we move towards the launch of the new handhelds and console technologies, the acquisition demonstrates our ongoing commitment to strengthen our market leading position within Europe."
The company now operates over 650 stores, including franchises, in Europe with 400 in the UK and Ireland, 88 in France (branded ScoreGAME), 54 in Sweden and Denmark and 57 in Spain (branded CentroMail). The company also has 10 additional franchise stores in France, following the new acquisition, and 47 in Spain.