Genesis buys Czech GAME subsidiary

Genesis began negotiations to buy GAME's Czech subsidiary in February this year, attracted by the steady growth of the gaming and entertainment industry in Central and Eastern Europe.

OpCapita acquired GAME Group's UK business for a nominal £1 in April this year from PricewaterhouseCoopers, the firm's administrator. While the original transaction did not include any of the company's overseas operations, the turnaround investor then bought GAME Iberia through the newco Cherrilux Investments.

Company
Game Czech is the Czech subsidiary of UK-based GAME Group, a video games retailer. The subsidiary operates 30 stores, primarily located in shopping centres across the country. The firm reported revenues of €12.7m in 2011 and employs 102 members of staff.

People
Jan Tauber is CEO of Genesis and worked on the deal. Luke Charles will continue as chairman of the board.

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• Topics
• CEE
• Consumer
• Buyouts
• Czech Republic