PPR ACQUIRING COMPUTER STORE
PARIS — French retail giant Pinault-Printemps-Redoute is making another big acquisition, this time in computers, solidifying the company’s position in that field.
On Monday, PPR said it would buy Surcouf, Europe’s largest computer store.The offer values the company at $46 million. The founders hold 90 percent and 10 percent is publicly traded.
Surcouf, which has only one store in Paris and an e-commerce business with 4,000 sku’s, sold $147 million worth of computer equipment in the year ended Sept. 30, 1999, according to a statement issued by PPR. Dollar figures are converted from francs at current exchange.
PPR already has a sizeable computer retailing business through its FNAC book and music chain.”The acquisition will enhance the commercial success of Surcouf, whose concept is very complementary with FNAC, by extending its offer and enlarging the client base,” the statement said.