GAME expands with acquisition of new stores in France

GAME is to increase its presence in France following the acquisition of more than 50 new stores from book retailer Maxi-Livres, a company currently in administration.

Maxi-Livres has 121 branches in the territory, and GAME has paid Euro 6 million for the 51 of those which are thought to offer the greatest opportunities for games retail. All of the stores' 132 staff will continue in their roles under GAME's management.

GAME will spend around Euro 7 million refurbishing the stores, which are expected to re-open with new branding in between three and six months. The acquisition brings the total number of GAME stores in France to 158.

"At a total cost of around Euro 260,000 per store this is an innovative and efficient way of rapidly expanding our portfolio in France. It will both provide scale benefits and enhance our brand positioning in the French market," said CEO Lisa Morgan.

"The stores are complementary to our existing portfolio and this demonstrates our ongoing commitment to strengthen our market leading position within Europe."