Peek & Cloppenburg Group acquires Magasin Du Nord chain

Photo Credit : www.magasin.dk

Peek & Cloppenburg Group acquires Magasin Du Nord chain

At the end of May 2021, the Danish department stores’ chain Magasin du Nord will become part of the Peek & Cloppenburg Group. The group operates around 140 P&C and Anson’s stores in 15 countries as well as various international online shops through its subsidiary Fashion ID. With the acquisition of Magasin du Nord, Peek & Cloppenburg strengthens its position as one of Europe’s leading multi-brand omnichannel fashion retailers and adds a successful Scandinavian retailer to its portfolio.

“Magasin du Nord, like Peek & Cloppenburg, is a retail company with a long tradition,” said the management of Peek & Cloppenburg KG. “Due to the current market dynamics, the opportunity has arisen to bring Magasin du Nord under our umbrella and we are convinced that both companies will benefit from this new partnership. With the acquisition, we are entering a new European market where we see great potential, and we look forward to the future together with Magasin du Nord.”

Peter King, part of the management of Magasin du Nord: “We are pleased to have found a trustworthy and long-term partner in the family-owned company Peek & Cloppenburg, which sees the potential of Magasin du Nord and appreciates its entrepreneurial roots. Our two companies have many things in common and have around 275 years of combined experience as multi-brand retailers. We look forward to shaping the future of retail together and delighting our customers.”