Investment date: November 2012
Initial acquisition in November 2012 of Galerie du Meuble, 3-store Quebec City based high end furniture retailer with exclusive rights to the Roche Bobois banner in Eastern Quebec, combined with the acquisition of Maison Corbeil in December 2013, a 4-store Montreal-based high end furniture retailer. Added Jardin de Ville to the group through its acquisition in December 2015. The combined company was renamed G2MC.
Investment Highlights
Galerie du Meuble, Maison Corbeil and Jardin de Ville are clear market leaders in their respective markets
Very attractive store economics in the high end furniture segment with high gross margins, and very low working capital requirements
Very fragmented market segment with no significant scale competitor; low and mid end segments already consolidated
Significant procurement synergy opportunities from combining operations
Void in market offerings in certain markets presents organic growth opportunities
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