GameStop Corp. (NYSE: GME), the world´s largest video game and
entertainment software retailer, today announced that it has agreed to
purchase 100% of the outstanding share capital of Free Record Shop
Norway.
Free Record shops in Norway will be transitioned to the GameStop
brand, significantly bolstering the company´s presence within the
Nordic region. GameStop operates over 5,000 locations worldwide.
Following the acquisition of the 49 locations, the company will
operate a total of 160 locations throughout Norway, Sweden, Denmark
and Finland.
R. Richard Fontaine, Chairman and Chief Executive Officer of
GameStop, commented, "We are pleased to have worked with Hans
Breukhoven and his entire management team at Free Record Shop to
complete this acquisition. We look forward to expanding our productive
business model in the Norwegian market and partnering with the
knowledgeable and energetic store personnel at Free Record Shop. This
transaction is another step in our strategy of bringing move video
game stores to growth markets around the world."
Hans Breukhoven, Chief Executive Officer of Free Record Shop
Holding, commented, "Free Record Shop is very satisfied with this
agreement and the excellent opportunity that this sale presents us to
make further investments to expand and establish our retail position
in the Benelux. Besides that we are very pleased that our esteemed
sales staff found employment in the GameStop organization and can help
them with their planned growth."
The transaction is expected to close in early April.
About GameStop Corp.
Headquartered in Grapevine, TX, GameStop Corp. is the world´s
largest video game and entertainment software retailer. The company
operates over 5,000 retail stores across the United States and in
fifteen international countries. The company also operates two
e-commerce sites, GameStop.com and EBgames.com, and publishes Game
Informer(R) magazine, a leading multi-platform video game publication.
GameStop Corp. sells new and used video game software, hardware and
accessories for video game systems from Sony, Nintendo, and Microsoft.
In addition, the company sells PC entertainment software, related
accessories and other merchandise.
General information on GameStop Corp. can be obtained at the
company´s corporate website at http://www.gamestop.com/corporate.
Further information on the company´s operations in the European Union
can be obtained at www.gamestop.eu.
Safe Harbor
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements include, but are not limited to, the outlook for the
company´s plans, objectives, expectations and intentions and other
statements that are not historical facts. Such statements are based
upon the current beliefs and expectations of GameStop´s management and
are subject to significant risks and uncertainties. Actual results may
differ from those set forth in the forward-looking statements. Factors
that could cause GameStop´s results to differ materially from those
described in the forward-looking statements can be found in GameStop´s
Annual Report on Form 10-K for the fiscal year ended February 3, 2007
filed with the SEC and available at the SEC´s Internet site at
http://www.sec.gov.
