SuperGroup's £34m buy of CNC is 'win, win, win'

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The company behind the Superdry label - whose clothes have been worn by Zac Efron and David Beckham - is forking out 40 million (£33.8 million) for its French and Benelux distribution partner, CNC Collections, to accelerate the roll-out of its stores across Europe.

CNC's boss, Luc Clément, will receive 7 million in cash and the remainder in SuperGroup's shares, with a performance clause built in for more than a third of the stock. Clément will join SuperGroup as head of European franchising to lead its push into the Continent.

"We are capturing enormous profit growth, it will help our European expansion and we've got the perfect person to lead it in Luc Clément," said Dunkerton. He added that the retailer would open boutiques and larger shops in shopping centres, where he hopes to emulate the success of its Westfield store.

SuperGroup's shares jumped 4% to 1566.2p. Arden Partners' Nick Bubb said the acquisition "should be earnings enhancing". He has a buy rating on the shares, and a 1900p price target.