DCC, a Dublin-based business support services group is to acquire a Paris-based distributor of consumer electronic products Banque Magnetique, for €38.1 million (£26.7 million).

DCC, a Dublin-based business support services group is to acquire a Paris-based distributor of consumer electronic products Banque Magnetique, for €38.1 million (£26.7 million).

The acquirer services the computer, healthcare, food and energy sectors and is buying the firm from Fayrewood subject, inter alia, to approval from the French competition authorities. The deal comprises €12.5 million (£8.8 million) cash and debt of €25.6 million (£18.1 million).

The target firm’s operating profits before group charges, goodwill amortisation and exceptional items for the year up to January this year was €4.5 million (£3.2 million) and is expected to achieve operational profits of some €5.6 million (£3.95 million) in the ensuing year.

The company distributes a broad range of consumer electronic products and IT peripheral products and services to a wide range of retail customers including internet, supermarket and specialist electronics retailers.