€33 Million Sale for CCC Romanian Franchise

For a number of years, the CCC retailer in Poland has been under different ownership to the CCC franchise in Romania. However, this is now set to change after a non-binding agreement was confirmed towards the end of 2017. Peeraj Brands International, owner of the Romanian company, will receive around €33 million.

Currently, Peeraj is considered one of the largest fashion companies in the country and is responsible for 54 different CCC stores. During the first three quarters of 2017, the company made a profit of €5.5 million thanks to a sales figure close to €38 million. Compared to the same three quarters in 2016, this shows growth of nearly 30%.

According to CCC, “The completion of the transaction is conditional upon the fulfilment of a number of conditions, such as relevant corporate transformation of Peeraj CCC, obtaining required corporate and regulatory approvals, including approval from the relevant competition authority, finalizing the due diligence and other standard conditions for this type of transaction.”

If all goes to plan, the deal is set to go through before summer 2018. For Peeraj, their prominence in the Romanian market will still be clear since they operate around 100 other stores for various brands including Kazar, Armani Jeans, Swarovski, Pimkie, Geox, and Pizza Italia. As a group, they have around 650 employees and posted turnover of €50 million in 2016.