- Lovisa (LOV) was up more than 14 per cent today after announcing the acquisition of German wholesaler beeline GmbH’s European retail network
- This acquisition will see Lovisa acquire the shares in six of beeline GmbH’s trading entities in Germany, Austria, The Netherlands, Switzerland, Belgium, and Luxembourg
- Shares in all six of these entities will acquired for a total purchase price of only €60 (around A$97.99)
- This expected to add more than 80 stores across Lovisa’s global network
- Lovisa has also entered a put option agreement to acquire beeline France, potentially giving the company access to a network of 30 more stores
- Lovisa is still up a healthy 13.4 per cent and shares are trading for $11.37 each
