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Expanding French furniture retail conglomerate Maisons du Monde has disclosed the sale price for Modani, the furniture chain it bought in May, for the first time.


The retailer paid €36.3 million* (£33m) to acquire a 70 percent stake in the modern furniture retailer earlier this year, taking the business into the American market.


Modani operates from coast-to-coast in the U.S, generating sales of $41.4 million (£32.2m) last year from its — at-the-time — ten-store business.


Under Maisons du Monde's stewardship, Modani is already on the expansion trail, opening three new showrooms in July to bring the total to 13 units.


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* net of cash acquired, which wasn't broken down; All currency conversions correct at Aug. 29, 2018



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