Debenhams has bought the leading Danish department store chain Magasin du Nord in a deal worth £12.3m.
Magasin attracts some 20m customers annually and had sales of £228.7m in the financial year to February 28 2009. Debenhams has acquired all six stores – four in and around Copenhagen and two in Århus and Odense.
Debenhams chief executive Rob Templeman said that “the close fit between
the two businesses will be mutually beneficial. Magasin is one of the best-recognised brands in Denmark, with a loyal customer base and some great products.
“The success of our international business demonstrates that there is demand for our own-bought and Designer brands outside our home market, which we believe will complement Magasin’s existing brands and deliver both outstanding value and choice to the Danish consumer.”