That's a lot of high street stores...
It may already dominate the high street games stores but that hasn’t stopped retailer monster Game (previously Electronics Boutique) from cementing its position even further.
This week it has announced the purchase of its closest high street competitor ‘Gamestation’ for a total of £74m. Gamestation will bring 217 outlets to Game – though they will remain independently branded.
Game will pay for the Gamestation deal with a mixture of cash and loans and will own 100 per cent of the company’s share capital.
Peter Lewis, Game’s chairman, said in a statement, “We are delighted to bring Gamestation into our portfolio and believe it has a strong future within the group. The Gamestation business is one we have long admired and is complementary to our existing business in terms of both store portfolio and target customers.”
Gamestation executives didn’t speak about their reasons for selling but with a profit of just £2.1m from last year’s annual revenue of £203.5m it certainly seems the store was feeling the pinch. Thankfully, there has yet to be any suggestion of redundancies or store closures due to resource overlapping.
Consumer choice it (s)was(/s) is a wonderful thing.