Remax Portugal buys German subsidiary
Two months after acquiring Remax France, Remax Portugal bought the German subsidiary and it will invest four million euros in the next three years.
Just two months after buying Remax France, Remax Portugal decided to change the focus to the German territory. The Portuguese subsidiary is the new owner of Remax Germany and, for this, will invest four million euros in three years. According to the expectations, the German market should invoice around 1.000 millions euros until the end of the year.
Remax Portugal “has now bought the franchising rights of the brand in Germany”, announced the Portuguese subsidiary, in a statement. This operation took place following an invitation from Remax Europe, which “once again recognised the success of the operation in Portugal”. The objective is “to replicate in Germany the business model that has been a success story” in Portugal.
Remax has been present in Germany since 1997 and, since then, has started its expansion through the west side of the country. The head office is currently in Stuttgart, being the third largest network operating in the country, with 181 branches. This number has been growing, but the goal is to open 100 branches per year.