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April 2, 2012

OpCapita bails out GAME Group

More than 300 UK stores to be snapped up by Baker and 3,200 jobs to be saved

By CBR Staff Writer

Baker Acquisitions, an entity advised by the private investment firm OpCapita, has acquired GAME Group’s UK assets.

Baker will acquire all 333 UK stores that have remained open during the period of administration, PwC, administrator to the Game Group said.

OpCapita managing partner Henry Jackson said they strongly believed there is a place on the high street for a video gaming specialist and GAME is the leading brand in a £2.8bn market in the UK.

"There is a huge amount to do but we look forward to the challenge of restoring GAME’s fortunes in partnership with its employees and suppliers," added Henry.

As per the deal, Baker Acquisitions will acquire the UK business out of administration and will provide it with the capital it needs to trade on a normalised basis.

The deal will safeguard the jobs of nearly 3200 GAME employees who will to be transferred to Baker.
Baker will also seek to re-employ a small number of staff who previously worked at GAME’s head office, but received redundancy notices last week.

Financial terms of the acquisition have not been disclosed.

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