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Dutch company HAL acquires Krane Optik in Germany PDF
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Companies
Wednesday, 27 September 2006
HAL and Marktkauf, a 100% subsidiary of the German retailer EDEKA Zentrale AG & Co., today agreed on the acquisition by HAL Holding N.V. of all the shares of Krane-Optik and Akustik in Germany.

HAL already owns, through its 98% stake in Pearle Europe B.V., Apollo-Optik which operates 488 stores (including 153 franchised stores) in Germany. The 2005 net sales of Krane Optik amounted to approximately 40 million euros. The company employs approximately 650 people and operates 87 stores. The transaction is still subject to approval by the German Competition Authorities.

Meanwhile, Pearle Europe completed today the acquisition of 100% of the shares in Optikk Norge A/S. This transaction was already previously announced. The company provides services to 75 stores in Norway operating under the Interoptik brand name. The stores have annual system-wide sales of approximately 50 million euros. As part of the transaction, the Interoptik stores entered into a new franchise agreement with Optikk Norge A/S.