ITAB - ITAB has made a principle agreement to acquire City Group in Great Britain

ITAB has made a principle agreement to acquire City Group in Great Britain

3/1/2006 2:38:00 PM

ITAB Shop Concept has made a principle agreement to acquire City Group, who is one of the leading suppliers of shop fitting products and services in Great Britain.

City Group, a fast growing company, supply shop fitting products and services to a number of the UK’s leading blue chip company’s in both food and non-food retail. The turnover for 2006 is estimated to be SEK 300 million.

The potential acquisition is of strategic importance for ITAB Shop Concept. It means the group is creating an important platform in one of the worlds prime retail markets. The synergy between ITAB Shop Concept and City Group centred around flexible high quality products and services will create exciting opportunities in a market constantly looking for innovation.

City Groups activities consist of high quality flexible service, project management, logistics and bespoke production. ITAB is one of Europe’s leading suppliers and manufactures of retail products including shop fittings, checkouts and entrance systems. Opportunities will be created through the integration of these product lines into City Groups activities to provide an additional range of highly competitive products and services.

ITAB Shop Concept supplies complete shop fittings for the food and non-food business. The activities consist of project management, design, development, manufacturing and sales. The concept range includes shop fittings mainly in wood and metal, shop equipment such as checkouts and entrance systems and internally developed products. The yearly turnover in ITAB Shop Concept is approximately SEK 1.700 million after these acquisitions and has 1250 employees.

For further information, please contact:
CEO Jan-Ola Wiréhn
ITAB Shop Concept AB, Sweden
Phone: +46 36 31 73 00
Mobile: +46 705-77 60 76

ITAB Shop Concept AB
vVD/dCEO Ulf Rostedt
Phone: +46 36 31 73 00
Mobile: +46 706-94 86 82

Attached file:
Pressrelease 060301