LAFUMA took-over the business activities and main assets of Gerog SCHUMACHER, a German company specialized in equitation clothing.
Sales in 2005 for Georg Schumacher totalled 2.2 million ($2.6 mm), 60% of which was achieved in Germany, Austria and Switzerland, and the rest mainly in Northern Europe.
This takeover fits two objectives – It reinforces the equitation offer of the company Le Chameau by including new expertise, a product line and a well-known label considered one of the top clothing brands for jumping and dressage. It allows for a greater market presence for the group in Germany, a country that has now become number one for our international sales. Further, it is a deeper entry into the German equitation market, the biggest and most technical in Europe.
Note that the operation only involved the takeover of the core elements of the business and all of the inventory.
Georg Schumacher will be integrated into Le Chameau. Operations in the Germanic zone will be covered by our subsidiary in Germany that has the set up to manage this new business and will streamline all of the strong common denominators of the two activities in sales, administration and logistics. The cost of the operation is 750,000 ($898,500).
