LONDON — SuperGroup, the parent company of the British streetwear brand Superdry, has purchased the SMAC Group, SuperGroup’s long-time Scandinavian distributor.
SuperGroup said the business was purchased for an “undisclosed sum” and paid for in cash from the firm’s own resources.
The acquisition means that SuperGroup will now have the rights to trade the Superdry label in Denmark, Norway and Finland. The company said the acquisition will help SuperGroup to meet its “ambitious plans for the region,” so the firm can invest its own capital in its store roll-out, improve wholesale margins and retain local operational and management expertise.
SuperGroup will work with the existing SMAC team, led by Stine Elmkvist and Lars Thygesen. SMAC is based in Aarhus, Denmark, and has four owned Superdry retail stores, eight franchise stores and what the company called a “thriving” wholesale business.
Julian Dunkerton, chief executive officer of SuperGroup, said: “The acquisition of our Scandinavian partner follows the purchase of [our] Spanish and German distributors last year. Our pan-European strategy is progressing well.… We remain fully focused on maximizing the global opportunity for the Superdry brand.”
Dunkerton added that the firm would provide an update on its developments when it reports on July 10 its results for the year to April 26.