P&C Düsseldorf acquires Magasin du Nord
What: The Danish department store chain Magasin du Nord will become part of the Düsseldorf-based Peek & Cloppenburg group of companies at the end of May.
Why is it important: After the acquisition, Magasin du Nord will remain an independent company under P&C umbrella.
The Peek & Cloppenburg Group currently operates around 140 P&C and Anson's sales outlets in 15 countries as well as various international online shops through its subsidiary Fashion ID.
Founded in 1868, Magasin du Nord has seven outlets in Copenhagen, Lyngby, Roedovre, Fields, Odense, Aarhus and Aalborg, as well as a Danish online shop. Since 2009, the retailer has been run as an independent company under the umbrella of British department store chain Debenhams.
"We are pleased to have found a trusted and long-term partner with the family-owned company Peek & Cloppenburg, who sees the potential of Magasin du Nord and appreciates the entrepreneurial roots. Our two companies have many similarities and together have around 275 years of experience as a multi-brand retailer," says Peter King, CEO of Magasin du Nord'.