Ivry-sur-Seine, France, 10 December 2025, 7h45
FNAC DARTY ANNOUNCES FULL BUY-IN
OF UK PENSION SCHEME
Fnac Darty today announces that it has reached an agreement with the Trustee of the Comet Pension Scheme in the UK to fully insure the Scheme's liabilities through a £330 million full buy-in with Canada Life UK.
The transaction secures the long-term benefits of all Scheme members by transferring the financial risk associated with future pension payments to a highly rated insurer. This marks a major de-risking milestone for Fnac Darty, providing greater cost certainty and strengthening its long-term financial position. The Scheme was part of Darty's legacy UK operations and became part of the group following the acquisition of Darty in 2016.
Under the terms of the agreement with the Trustee, this operation has no material impact on the Group's cash position. Member benefits remain unchanged as part of the agreement.
Jean-Brieuc Le-Tinier, Chief Financial Officer of Fnac Darty, said: "This agreement with the UK pension Trustee represents a significant step in our long-term strategy. Working closely with the Trustee, we have covered this risk without impacting the Group's cash position and secured members' benefits with a leading insurer. We are pleased to have completed this transaction in favourable market conditions."
Fnac Darty was advised by LCP who acted as lead transaction adviser, with Macfarlanes providing legal advice to Fnac Darty.
About Fnac Darty
Fnac Darty is a European leader in the omnichannel retail of consumer electronics and domestic appliances, culture and leisure products. With over 30,000 employees and a multi-format network of more than 1,500 stores in France, in Italy, in Portugal, in Spain, in Belgium and in Switzerland, the Group has a strong web position and a growing number of subscribers to its services. With its 2030 plan Beyond everyday, Fnac Darty is expanding its European footprint and deepening its shift towards a model focused on omnichannel, services, and circularity. Fnac Darty's revenue was over €10.5 billion in 2024 on the new perimeter including the Italian leader Unieuro. For more information: www.fnacdarty.com
CONTACTS
ANALYSTS/INVESTORS
Domitille Vielle - Head of Investor Relations - domitille.vielle@fnacdarty.com - +33 (0)6 03 86 05 02
Laura Parisot - Investor Relations Manager - laura.parisot@fnacdarty.com - +33 (0)6 64 74 27 18
PRESS
Bénédicte Debusschere - Head of Media Relations and Influence - benedicte.debusschere@fnacdarty.com - +33 (0)6 48 56 70 71
