Profil:
CCC SACCC footwear acquires 75 pct. stake in Szopex sports footwear for PLN 27.8 mln
Listed footwear group CCC and sports footwear retailer Szopex have signed a contract granting CCC's subsidiary Modivo 75 percent stake in the Szopex brand, CCC informed in a press release. The base transaction price is PLN 27.8 million (EUR 6.6 mln) and the deal is set to go through in the second quarter of 2025.
The CCC group has the option to pay half of the transaction price (PLN 13.9 million or EUR 3.3 million) in a package of 0.198 percent of Modivo shares.
The parties have also outlined the acquisition guidelines for the remaining 25 percent of Szopex shares in 2029, the price of which will depend on Szopex's 2028 financial results.
In 2024 the Szopex retailer saw over PLN 215 million (EUR 51.2 mln) in operational revenue, most of which was generated through online sales.
Szopex is the operator of SklepBiegacza, WarsawSneakerStore and SKstore brands, and sells Nike, Adidas and specialised premium footwear.
Szopex operates out of 10 stores as well as an e-commerce platform.
"Thanks to this investment we will gain access to top models from partner brands and, at the same time, we position the models of our licence brands, reinforcing their strength in all sales channels: CCC, HalfPrice, eobuwie, Modivo, Worldbox," CCC CEO Dariusz Milek, quoted in the press release, said.
"With the support of such a strong partner, we gain access to advanced logistics, wider purchasing opportunities and international expertise," Jeremiusz Dutkiewicz, CEO of Szopex, said.
As reported, the current management board of Szopex will remain unchanged.
pel/ han/
