Irish Apple reseller Compu B buys rival UK firm

66
Irish Apple reseller Compu B buys rival UK firm
Irish Apple reseller Compu B buys rival UK firm

Ireland’s main reseller of Apple products, Compu B — which has shops in Cork, Dublin, Galway, and Limerick — has further expanded into the UK by acquiring its British counterpart.

Compu B has not disclosed the purchase price, but said the acquisition of Professional Reseller Group — which owns the primary UK Apple reseller Stormfront Retail — should add €60m in annual revenue to its owner, the B.ICONIC Group.

As well as Apple, B.ICONIC is the main Irish reseller for luxury electronics brand Bang & Olufsen.

“The UK is an important market for our business, and this deal allows us to grow our presence significantly in this market,” said B.ICONIC chief executive Ciaran McCormack.

Compu B will take over Stormfront’s existing 23 Apple stores across the UK, which employ a combined 300 people.

“Stormfront complements our existing Apple premium reseller, business-to-business and education technology offering in the UK and Ireland, expanding our opportunities and supporting the delivery of our strategic growth plan for our business,” he said.

The Irish group generated revenues of €150m last year.

B.ICONIC will now own the largest Apple retail, business, employee benefits, and education partners in the UK and Ireland.

Stormfront became the largest UK Apple premium reseller within five years of opening its first shop in 2007. The company has twice been included in the top ten fastest growing UK companies in The Sunday Times’ Fast Track 100 list.

Source: Business News