In May, we reported that Monnari Trade had signed a letter of intent to acquire over 50 percent. shares of Komex, the owner of the network 5/10/15. On May 14, 2024, the management board of Monnari Trade (Monnari brand) signed a letter of intent with Hemoca Holdings Limited based in Nicosia. In the letter, the parties expressed their interest in an agreement for the sale of shares of Komex – the owner of the 5/10/15 brand – by Hemoca.
The letter of intent expressed the will to enter into talks and negotiations aimed at establishing detailed terms and conditions of purchase by Monnari (or an entity from this capital group) from Hemoca of the block of shares in Komex, constituting 50.056% of the share capital of Komex.
The parties agreed that the condition for the possible implementation of the transaction and the agreement on its final terms, including the purchase price of the Komex shares held by it from Hemoca, is prior due diligence.
The parties agreed on the exclusive right to conduct research and negotiate the terms of implementation of a possible transaction for a period of 4 months from the date of signing the letter.
Monnari believes that the purchase of a company from the children's clothing industry, under a recognizable brand, will be complementary to the Capital Group and will bring strong competences in a new area of the clothing industry.
5/10/15 well known on the Polish market.
What do we know about 5/10/15?
Mark 5/10/15. has been offering children's clothes and accessories for almost 30 years. Currently 5/10/15. is not only a network of nearly 260 stationary points throughout Poland, but mainly a multi-brand sales platform offering products of well-known brands for women, children, families and home use. The chain also develops through franchising.
What do we know about the Monnari Group
In 2023, the Monnari Group had revenues estimated at PLN 302 million, which means an increase of 7.3%. rdr. At the end of December 2023, the group sold in 218 showrooms, compared to 236 showrooms at the end of 2022 for both brands (Monnari 184 showrooms, Monnari franchise 19 showrooms, Femestage 15 showrooms) along with an online store, with a total area of approx. .5 thousand sq m (49.5 thousand sq m in 2022), which means a year-on-year decrease in the network area by approx. 6%. and the number of showrooms by 18.
