After Marco Polo Expert and Unieuro consumer electronics retail chains will be integrated the new group will start preparing for the Italian Stock Exchange, ceo of Sgm Distribuzione srl, Giancarlo Nicosanti, told MF-Milano Finanza last Saturday June 14th, The ipo will be made in two years’ time.
Sgm Distribuzione srl is the owner of Marco Polo Expert brand and since 2005 is controlled (trhrough Venice holdings) by private equity operator Rhone Capital and partecipated by the Italian Silvestrini family.
Last October British consumer retail giant Dixons Retail announced a deal bringing its Unieuro retail chain and Marco Polo Expert under a unique control (download here the press release). More in detail, both Unieuro spa and Sgm Distribuzione srl had been sold to the newco Italian Electronics. Yhe latter is controlled with an 85 pct stake by Venice holdings (83% Rhone Capital, 10% Silvestrini family, 1.68% ceo Nicosanti and the rest other managers) and partecipated with a 15 pct stake by Dixons.
«The private euqity fund wants to list the new Unieuro (the brand will be unique for both the retail chains) in order to partly divest and partly to give the group new finance to support growth by acquisitions in Italy”, ceo Giansanti told MF-Milano Finanza, adding that, after aggregated revenues in fiscal year ending in February 2013 of more than 1.3 billion euros, “the new group will reach revenues of 1.4 billions this year, becoming the first consumer electronics retail chain in Italy by number of shops (more than 400)”.