The German textile discounter NKD gets a new owner. On Wednesday the company announced that the South African trading group Mr Price Group Limited will take over NKD Group GmbH from the British financial investor TDR Capital LLP.
Both parties have already signed a corresponding purchase agreement, according to a statement. However, the completion of the transaction is “still subject to the usual antitrust audits”. Financial details of the proposed deal were not disclosed.
The NKD Group, based in Bindlach, Upper Franconia, which was able to increase its sales to 850 million euros in the last financial year of 2024, is hoping that the takeover will provide a further boost to growth. “The new owner Mr Price Group opens up additional perspectives for the company,” said the retailer.
The discounter, which currently operates around 2,200 branches in Germany, Austria, Italy, Slovenia, the Czech Republic, Croatia and Poland, says it plans to increase the number of its locations to 3,000 in the medium term. The long-term goal is 4,000 stores.
NKD wants to advance its growth plans with the new owner
NKD CEO Alexander Schmökel welcomed the upcoming takeover. “We are pleased to become part of the Mr Price Group. With a clear vision and strong commitment, we can sustainably expand our market position in Europe,” he said in a statement. “Together with our new owner, who comes from the retail sector and understands our industry, we will consistently implement our growth plans. The expertise of both sides will help us to continue to grow successfully.”
At the same time, Schmökel thanked the previous owner TDR Capital, which acquired NKD in 2019, for “the excellent partnership that has significantly advanced our development as a data-based value textile discounter.” With this “strong foundation,” NKD is now “ready for the next big step,” the company said.