Melon Fashion Group (MFG), of which Eastnine AB (publ) owns 36 per cent, has through a press release announced that the company has broadened existing brands; befree, ZARINA and LOVE REPUBLIC, with another brand; SELA.
MFG will take over 278 stores located in five countries: Russia, Moldova, Kazakhstan, Kyrgyzstan, the Republic of Belarus, and one online store. Of these, 143 comprises own stores and 135 franchise. The total selling space increases by 55,000 sq.m.. After the acquisition MFG comprises 857 stores with a total area of 202,000 sq.m..
The transaction amount is not disclosed.
Source: MFG acquires new brand