Komplett to sell Irish web store

Web retailer Komplett ASA said it will sell its operations in Ireland, the Netherlands and Belgium.

The firm, which sells technology products and trades under Komplett.ie in Ireland, has agreed to sell Komplett BV, which operates the three web stores, to Dutch firm ParaDigit Holding BV.

The financial terms of the deal were not disclosed.

The sale is expected to take place by April 1st, and Komplett ASA has the option to buy the stores back in three years. 

As part of the deal, ParaDigit Holding has signed a licence agreement allowing it to continue to use the Komplett name on the three stores.

Country manager for Komplett Ireland Aaron McKenna said the sale was a positive move.

"I think it will bring real benefits both to our business and to our customers in the very near future," he said.

"On April 1st the deal will be formally concluded and we will transfer into the ParaDigit group, so for the moment there'll be no immediate changes or effects noticeable from a customer perspective.

"From the first of April, we will be moving forward with what I expect to be an extremely interesting and exciting plan to expand the business. Our plan, long term, in Ireland, is to be remain the market leader in e-commerce in what is a relatively small but fast-growing market for internet shopping."

Prior to the sale, Komplett, which is listed on the Oslo stock exchange, had 11 online stores in six European countries - Norway, Sweden, Denmark, the Netherlands, Belgium and Ireland.