Gino Rossi walks into Simple women's apparel

The company expects numerous benefits from the acquisition. "There is room for the effects of cost synergy. Together we can efficiently develop the network abroad. We are initially thinking about the German market," stated Gino Rossi president Maciej Fedorowicz. The company will pay zl.32 million for a 100% stake in Simple (zl.23.5 million in cash and the rest in its own shares). Gino Rossi will use its own funds and loans to finance the transaction and is not considering any share issue at the moment. "But it does not mean that there will be no such transactions in future," stated Fedorowicz, "If there is a chance for an interesting deal we will consider it." The company's board has not yet revealed its new financial forecast. According to current estimates, Gino Rossi's revenues this year are to amount to zl.112.3 million and expects to post a net profit of zl.6.5 million. The H1 revenues of Simple stood at zl.13.2 million on which it made a profit of zl.2.8 million.(Puls Biznesu, p. 12) E.B.