The week in business: 14 November
FNG expands to Asia, Antwerp private equity group corners the Belgian coffin market and an overview of the rest of the week's business news
Chemicals – Solvay
Fashion – FNG
The Antwerp group, known for its Fred & Ginger and Van Hassels labels, has taken over the Dutch Steps and Superstar outlets and three purchasing offices in Istanbul, New Delhi and Hong Kong. The operation will be financed through a forthcoming bond issue.
Funerary – Down2Earth
The Antwerp-based private equity group has acquired the local company Funico, producing 60% of the 100,000 caskets used in Belgium every year. Funico, which also has operations in France and the Netherlands, was previously affiliated with the Flemish government’s GIMV investment company.
Pharmaceuticals – UCB
The Brussels-based biopharma group has sold its US Kremers Urban generic drugs production affiliate to the US Avista Capital Partners fund for €1.2 billion to help finance its long-term growth strategy.
Retail – Uniqlo
The iconic Japanese clothing store group has confirmed its plans to open an outlet in Antwerp, though it is pushing the date from early in 2015 to later in the year.
Supermarkets – Lambrechts
The Limburg-based distribution group, operator of Spar stores across Flanders, has taken over 78 small Prima neighbourhood supermarkets and 30 Uw Buurtwinkel convenience stores previously operated by the bankrupt Huyghebaert company.
Photo: Solvay Paulinia plant in Brazil
©José Carlos Brasil / Solvay
