OVS won’t acquire Coin
What: The Italian group OVS has abandoned its plan to buy the Coin department store chain, which currently operates 37 branches.
Why it is important: The two groups know each other well as OVS had parted ways with Coin before its IPO in 2015. Both parties have decided to end the 6-month negotiation process. OVS, determined to reduce his debt, felt that the investment was too heavy.
2022 was also rather positive for OVS with a net turnover of a value of 1.5 billion euros, up 11% thanks in particular to a positive performance of the Christmas period and, more significantly, end-of-season winter sales. OVS plans to continue growing in 2023.
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