Investors

RNS Number : 3841C  
  
Debenhams plc  
  
12 November 2009  
  
12 November 2009  
  
DEBENHAMS plc - ACQUISITION  
  
Debenhams plc, the UK department stores group, announces that it has entered 
into an agreement to acquire 100% of the shares of A/S Th. Wessell & Vett, 
Magasin du Nord ("Magasin") from Magillum A/S.  The consideration of DKK 101 
million (GBP 12.3 million)* will be satisfied in cash, subject to adjustment in 
respect of normalised working capital. Completion will take place once the 
various conditions in the agreement have been satisfied.  
  
Magasin is the leading department store chain in Denmark, with some 20 million 
customers annually and an annual turnover of DKK 1,885 million (GBP 228.7 
million)* in the financial year to 28 February 2009.  All six stores have been 
acquired: the iconic store on Kongens Nytorv in Copenhagen city centre, three 
other stores in the Copenhagen area (Fields, Lyngby and Rodovre), and stores in 
Arhus and Odense.  
  
Rob Templeman, Chief Executive of Debenhams, said:  
  
"We are pleased to add Magasin to the Debenhams group and believe that the close 
fit between the two businesses will be mutually beneficial.  
  
"Magasin is one of the best recognised brands in Denmark with a loyal customer 
base and some great products.  
  
"The success of our international business demonstrates that there is demand for 
our own bought and Designer brands outside our home market which we believe will 
complement Magasin's existing brands and deliver both outstanding value and 
choice to the Danish consumer.  
  
"As part of the Debenham's group, Magasin will be able to benefit from the 
Debenhams infrastructure and economies of scale. As we realise the synergies 
that will be available to both companies, we anticipate that this acquisition 
will be highly accretive for Debenhams shareholders"  
  
- Ends -  
  
* Converted at an exchange rate of GBP £1 : DKK 8.24  
  
About Magasin  
  
Magasin was founded in 1868 by Emil Valentin Lemmin Vett and Theodor Wilhem 
Wessel and is today regarded as the leading department store chain in 
Scandinavia, known for its heritage, its excellent customer service delivered by 
dedicated employees and its strong product portfolio. Its 300,000 square feet 
flagship store in Kongens Nytorv in Copenhagen city centre opened in 1894 more 
information on www.magasin.dk  
  
Enquiries  
  
Analysts/investors  
  
Rob Templeman       Debenhams plc     +44 (0) 20 7408 3302  
  
Chris Woodhouse     Debenhams plc     +44 (0) 20 7408 3302  
  
Media  
  
Jonathon Brill          Financial Dynamics +44 (0) 20 7269 7170  
  
Jan Helleskov         Magasin du Nord    +45 42 13 56 47  
  
Notes to Editors  
  
Debenhams is a leading department stores group with a strong presence in key 
product categories including womenswear, menswear, childrenswear, health and 
beauty, accessories, lingerie and home. Debenhams is the second largest 
department store chain in the UK.  
  
Debenhams has a total of 145 department stores in the UK and the Republic of 
Ireland and 12 Desire by Debenhams stores, which is a small store concept 
featuring a mix of womenswear, health and beauty, accessories, lingerie and 
childrenswear. Debenhams has 52 international franchise stores in 17 countries 
and an online store, www.debenhams.com, through which much of the Debenhams 
range is available.  
  
Designers at Debenhams include Ted Baker, Jeff Banks, Jasper Conran, Erickson 
Beamon, Pip Hackett, Betty Jackson, Ben de Lisi, Julien Macdonald, Melissa 
Odabash, Jane Packer, Pearce Fionda, Janet Reger, John Rocha and Matthew 
Williamson.  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange