Mergers and Acquistions News
Categories: Media & Information Services
March 3rd 2009, 17:16PM
One of the highest profile victims of the recession, the entertainment retailer Zavvi, has been snapped up by the Hut Group.
As part of the deal, the Hut Group will capitalise on the Zavvi brand by expanding the www.zavvi.co.uk website, which relaunched yesterday.
In addition to the retailer's traditional products, such as CDs, DVDs and games, the Hut Group is to launch the retail brand into electrical, computing and perfumes.
The Hut Group says the acquisition will create up to 100 jobs at its head office in Norwich.
Chief executive officer of the Hut Matthew Moulding describes Zavvi as a "major player" in entertainment retail.
"Our aim is to capitalise on this well recognised high street brand and transform the business into a leading class online retailer, not only in entertainment, but also across lifestyle products," he explains.
The Hut also operates online sites for major retailers, including Asda and Tesco.
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