Sadhrta, the retail arm of software majors Intelligent Business Systems, has planned to invest around euro 20 million (about Rs 132 crore) to acquire a 100 per cent stake in the Austria- Switzerland-based sleeping system retailer Samina.
Announcing this, Kaustubh Chokshi, CEO, Intelligent Business System, said: “Samina was the joint venture partner of Sadhrta in India. In order to expand our retail footprint overseas, we thought of acquiring Samina, a retailer and producer of sleeping systems across the globe.”
Sadhrta has already acquired a 50 per cent ownership stake of Samina in Germany and with this acquisition plans to expand its retail network there. “With this acquisition, we will open around 20 additional retail outlets in Germany under the brand name of Sadhrta Samina,” Chokshi said.
Besides, in countries like Turkey, where Samina already has franchisee outlets, Sadhrta will continue with them, Chokshi said. “Since franchisees are already in place, Sadhrta will not extract a margin and the economics for all parties will remain unaffected. It will charge a small handling fee to cover costs,” informed Choksi.