Olive set for GPB 2m Impulse purchase

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B2B dealer Olive Communications is set to buy the Impulse music store chain for £2 million, Mobile News understands.

Olive managing director Mark Geraghty (pictured) refused to name the acquisition target, but confirmed Olive had agreed in principle to acquire a “well-known music retailer”, based primarily in airports and stations.

The stores are to be re-branded Olive, and will stock mobiles as well as CDs, DVDs and games.

Olive stores will open in 11 UK airports within six to 12 months, and at new sites at Gatwick and Luton within three months, giving the company a retail presence for the first time.

Geraghty said: “We are going through due diligence, checking leases. The deal is good for both parties, and is agreed in principal, but there are a few loose ends.”

Geraghty said Olive, winner of T-Mobile’s best business partner award four years running, is in discussions with T-Mobile about store branding, and whether it will support the venture in return for an exclusive airtime deal.

“I would like to sell all the networks, but we are in discussion with T-Mobile about certain options too.”

Pending completion of the deal, all stores will feature a mobile data centre to focus on data products and services, with some prepay stock in larger stores.

 

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