MQ announces it has completed the acquisition of the retail-clothing company Joy
”Joy adds an established retail chain brand for ladies fashion to the MQ Group,” says Christina Ståhl, CEO of MQ.
The purchase price amounted to 38.5 million SEK. The transaction has received approval from the Swedish Competition Authority.
The deal was announced on 17 March 2016. All of the terms and conditions associated with the transaction have been met and the acquisition has been completed.
Accordingly, Joy AB has now joined the MQ Group.
“We are pleased to announce the completion of the acquisition and that Joy is now a part of MQ. With its 55 stores and online sales in Sweden, Joy adds an established retail chain brand for ladies fashion to the MQ Group. Joy caters to midlife women and thereby adds a new, interesting and affluent customer group with a keen interest in fashion to the MQ Group. Women in the 50+ age group account for more than half of the Swedish womenswear market and are today the market’s fastest growing customer group,” says Christina Ståhl.