Belgian-Dutch FNG Groep has attracted another 25 million euro thanks to new bonds. The money should help finance its recent acquisitions.
New Brantano formula
Its new bonds are the second part of FNG Benelux Holding’s previous bond issue, which generated 20 million euro in July 2016. In total, the company created 45 million euros’ worth of bonds, with an annual 5.5 % interest rate.
FNG Groep intends to use the money to finance its recent acquisitions, including Belgian fashion chain Concept Fashion in May. Brantano’s new formula, with a wider product range including clothes, will also be rolled out faster. There are already a few stores with that new formula and they have achieved a 20 % turnover increase, which inspired FNG to roll out the formula even faster.
FNG Groep acquired several companies in the past few years and it will now also focus on men’s fashion. To that end, its purchase of online fashion company Suitcase makes complete sense.
