Acquisition of Group Tati

GPG, holding of Philippe Ginestet, strengthens its specialized retail activity thanks to the acquisition of the main assets of Tati from Eram Group, former parent company. Created in 1993, GPG carries out activities of retail, real estate, media and games edition and with its main asset being Gifi. The alliance between these two historical family businesses is based on clear complementarity: while it will enable Gifi to diversify its offer and reinforce its national footprint, Tati will keep its identity and most of its employees.

Founded in 1981 by Philippe Ginestet, its current President, and thanks to a strong commercial strategy, Gifi is a French and European leading budget-friendly homeware and family goods brand (452 stores, 5,400 employees, €1.2bn of network sales in 2016). In addition, Gifi is also a strategic shareholder of the Belgian Group Trafic. With network extension clearly at heart of its development strategy, the Group continuously opens new stores all over the world and looks for offer’s diversification.

Tati was created in 1948 by Jules Ouaki and is considered as the most well-known French pioneer of discount textile and bazaar goods. With more than 170 stores around the world and 1,700 employees, the Group generates more than €330m sales. Nevertheless, the Group had to file for a suspension of payments followed by an insolvency procedure last April: this recent acquisition will enable the company to bounce back with growth thanks to GPG Group’s historical know-how while keeping Tati’s strong historical identity.