B&M European Value Retail S.A., the UK's leading leading general merchandise value retailer, acquired through its subsidiary, EV Retail Limited, the entire issued share capital of Paminvest SAS, a discount general merchandise retailer group operating with a chain of 95 stores under the trading name Babou in France. The total enterprise value of the transaction is €91.2m, which includes the debt of the Babou Stores Group refinanced by B&M. The consideration was paid in cash financed by an additional loan facility. There is no deferred consideration payable in relation to the transaction. The acquisition of the Babou Stores Group will provide a base which will enable B&M to develop and grow in France its proven and profitable value retail model. B&M's strategy for the Babou business is to apply B&M's direct product sourcing and limited assortment SKU model, while refining Babou's product offering. The average store size, location and customer base of Babou are comparable to the highly successful B&M Homestore operation in the UK. The French market, alongside the existing German and UK markets in which B&M operates, has attractive dynamics including overall market size, the popularity of the growing discount channel and the healthy operating margins achieved by several incumbent operators.