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German retailer Peak & Kroppenberg acquires Devenham’s Magasin du Nord

Debenhams’ Danish department store Magasin du Nord has been acquired by German-based retailer Peek & Cloppenburg. The business was acquired by Debenhams in 2009 for £ 12.9 million and went on sale last September. Debenhams UK also sold its brand name and online business to online retailer Boohoo and closed all stores in the UK this month.

Founded in 1868, Magasin du Nord has seven stores in Copenhagen, Limby, Rødovre, Fields, Odense, Aarhus and Aalborg. There is also an online platform.

“Magasin du Nord, like Peak & Kloppenberg, is a retailer with a long tradition. The dynamics of the current market have created an opportunity to bring Magassin du Nord under its umbrella, and both companies will benefit from this new partnership. I’m confident, “said Peak & Kloppenberg’s management in a statement.

“We are delighted to find a reliable long-term partner at Peak & Kloppenberg, a family-owned company that has discovered the potential of Magasin Dunor and appreciates its entrepreneurial spirit. The company has a lot in common, with about 275 years of experience as a multi-brand retailer, said Peter King, executive of Magasin du Nord.

The Danish store chain will continue to operate as an independent business.

Fiber2Fashion News Desk (KD)

Debenhams’ Danish department store Magasin du Nord has been acquired by German-based retailer Peek & Cloppenburg. The business was acquired by Debenhams in 2009 for £ 12.9 million and went on sale last September. Debenhams UK also sold its brand name and online business to online retailer Boohoo and closed all stores in the UK this month.



German retailer Peak & Kroppenberg acquires Devenham’s Magasin du Nord

Source link German retailer Peak & Kroppenberg acquires Devenham’s Magasin du Nord

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