SmartGuy Group A/S has acquired a German online sports- and fashion retailerAnnouncement no. 5 / 2013
SmartGuy Group A/S has acquired a German online sports- and fashion retailer
SmartGuy Group A/S has acquired the assets of the internet retail company Schmid Profi GmbH; a 9 year old German company with activities in online sports- and fashion mainly in Germany, Austria and the Czech Republic.
The transaction has been structured as an asset deal excluding debt.
The assets being acquired generated a turnover of DKK 98 million in 2012 with an EBITDA margin of 0%. The acquisition is a result of a reconstruction of the target company. The acquisition is expected to contribute with additional revenue of between DKK 25 million and DKK 50 million in the financial year 2013/14. The reconstruction of the target company will include the relocation of all German logistics functions to SmartGuy Group A/S ' new warehouse in Poland.
It has been agreed that a limited number of employees will continue in Germany. This team will support SmartGuy Group A/S's platform for growth in Germany going forward.
The assets acquired include sports- and fashion goods with a cost price of DKK 11 million and a customer base of 1.2 million customers, of whom 650.000 receive newsletters from the company.
The agreed acquisition price for all assets corresponds to a total of DKK 8 million in cash contribution.
The acquisition will lead to a larger critical mass and a stronger market position especially in the German speaking countries, where SmartGuy Group A/S is targeting additional profitable growth.
Questions regarding this announcement may be addressed to Nicolai Kærgaard, CEO, on mobile tel.: +45 26 22 99 11 or to Marc Jeilman, CFO, on mobile tel.: +45 20 35 25 80.
SmartGuy Group A/S
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