SuperGroup has acquired CNC Collections BVBA (CNC), the French and Benelux franchisee and distributor of its Superdry brand to help drive international expansion.
Supergroup said that the €40m (£33.8m) acquisition of its French and Benelux distribution partner, which manages 29 franchise stores in Belgium, the Netherlands, Luxembourg and France, would enable it to improve its margins on retail sales and help it to accelerate its international store roll out.
As part of the deal CNC owner Luc Clément has been appointed head of European franchising at SuperGroup.
Supergroup, which operates the Superdry brand and Cult Clothing chain, said it expected sales to exceed €40m (£33.8m) and consolidated profits to increase in the French and Benelux regions to €8m (£6.8m) in its first year of ownership.
Supergroup chief executive Julian Dunkerton: “The acquisition of CNC is a major step in our European growth strategy, allowing us to capture additional gross profit in four key territories, driving our franchise acceleration and opening the possibility of company-owned larger format stores in key shopping centres across Europe.”