Gaming
The 400-strong high-street retailer GAME has bought up competitor Gamestation in a deal worth £74 million.
Gamestation has 217 stores and this new agreement will see the two merge, though the chain is planning to keep the two brand names separate.
"We are delighted to bring Gamestation into our portfolio and believe it has a strong future within the group," said GAME chairman Peter Lewis. "The Gamestation business is one we have long admired and is complementary to our existing business in terms of both store portfolio and target customers.
"By investing in both brands we will further enhance the group's retail strategy while continuing to deliver and broaden our consumer reach. I am confident that this transaction will add considerable value to GAME and its shareholders over the coming years."
Analysts believe the acquisition came about after GAME saw Gamestation is popular with hardcore gamers where as its own brand is far more mainsteam and it wants the best of both worlds.
For the year ended December 31, Gamestation reported a turnover of £203.5 million and profit of £2.1 million.
Gamestation has 217 stores and this new agreement will see the two merge, though the chain is planning to keep the two brand names separate.
"We are delighted to bring Gamestation into our portfolio and believe it has a strong future within the group," said GAME chairman Peter Lewis. "The Gamestation business is one we have long admired and is complementary to our existing business in terms of both store portfolio and target customers.
"By investing in both brands we will further enhance the group's retail strategy while continuing to deliver and broaden our consumer reach. I am confident that this transaction will add considerable value to GAME and its shareholders over the coming years."
Analysts believe the acquisition came about after GAME saw Gamestation is popular with hardcore gamers where as its own brand is far more mainsteam and it wants the best of both worlds.
For the year ended December 31, Gamestation reported a turnover of £203.5 million and profit of £2.1 million.
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