Nobia enters Spain

 

Magnet, with its 193 kitchen stores at mid-year, is one of the leading kitchen companies in the UK. The company has been part of Nobia since 2001 and has since undergone major changes. These include a comprehensive refurbishment programme for the store network and modification of the Trade concept. Today, Nobia approved a considerable expansion of the store network. The ambition is to open 100 new stores, of which about 30 in 2007.

 

Hygena is a store chain with 140 stores throughout France. The company has been part of Nobia since 2006. Hygena has a leading position in the economy and mid-price segments in France. Today, Nobia decided to expand its store network by opening stores in central locations of major French cities in addition to other locations. To achieve complete market coverage, the ambition is to open a further 50-75 stores in France when integration into Nobia's product supply system is completed.

 

Nobia also decided today to establish the Hygena concept in Spain. Establishment will be conducted region by region, commencing with four stores in the Barcelona area.

 

"We have a high level of confidence in the Spanish market and that the Hygena concept is appropriate," says CEO Fredrik Cappelen, Nobia. "During the first year we will learn more about the Spanish market and acquire an organisational platform. We will then accelerate to highest momentum and establish stores in several cities."

 

 

For further information, please contact one of the following:

Fredrik Cappelen, CEO, Nobia

Ingrid Yllmark, Director Communications and IR

Both can be reached at: +46 (0)8 440 16 00 or +46 (0)70 65 59 00

 

 

Nobia AB

 

19 July, 2007

 

 

 

As the leading kitchen company in Europe, Nobia is championing the consolidation of the European kitchen industry. Nobia creates profitable growth by enhancing efficiency and making acquisitions. The Nobia Group works with 20 strong brands in many European countries. Sales are mainly generated through specialised kitchen studios, both wholly owned and franchised. The Group has about 8,000 employees and net sales of approximately SEK 16 billion. Nobia is listed on the OMX Nordic Exchange

in Stockholm. More information is available at www.nobia.com.