XXXLutz to take over Conforama in Spain and Portugal

WM Holding GmbH and CAFS Invest, both affiliated companies of the XXXLutz Group, have reached an agreement with the current owner, the Ibex Group (the successor from the restructuring of the Steinhoff Group), to take over Conforama Iberia (Spain and Portugal). The brand name and look and feel will be retained and will be managed by a separate local management team. After the participation/acquisition of Conforama in France and Switzerland, the commitment in Spain and Portugal was the logical next step. The planned acquisition is subject to approval by the competition authorities.

With 59 stores, Conforama Iberia is one of the major players in Spain and Portugal. The store network consists of 46 stores in Spain and 13 in Portugal.

"We are delighted to be present in 15 European countries with our new colleagues in Spain and Portugal. We strongly believe in bricks and mortar retail and the need for a regional store network. Together with a strong online presence, this is the ideal combination for all consumers interested in furniture and furnishings," says Thomas Saliger, spokesman for the XXXLutz Group.

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