TAKKT AG / Key word(s): Acquisition
TAKKT acquires leading online direct-marketing specialist for business equipment in the UK
Stuttgart, Germany, July 2, 2015. Today, the TAKKT Group company KAISER+KRAFT EUROPA GmbH has acquired 100 per cent of the shares of BiGDUG Ltd., a company headquartered in Gloucester (UK). KAISER+KRAFT EUROPA had entered into a share purchase agreement on 18 June 2015 which was subject to the approval of the Supervisory Board of TAKKT AG, which was given today. In the financial year 2014/2015, BiGDUG generated turnover of approximately £ 19 million and an EBITDA margin in the middle of the TAKKT target corridor of 12 to 15 per cent. BiGDUG will become a part of TAKKT EUROPE's Business Equipment Group.
BiGDUG is a leading and established specialist in the online sale of business equipment, with an emphasis on racking and shelving products and storage solutions with over 250,000 customers in the UK. The company sells over 20,000 products, predominately online via its main website www.bigdug.co.uk. "The acquisition of BiGDUG is an important milestone in our portfolio strategy to further strengthen our online activities and is therefore an ideal addition to our current businesses", commented Felix Zimmermann, CEO of TAKKT AG.
BiGDUG has been able to build a loyal customer base in the UK with innovative marketing campaigns and a target group-oriented product range. "Since its foundation in 2004 BiGDUG has enjoyed very strong and profitable growth," added Claude Tomaszewski, CFO of TAKKT AG.
The purchasing price for the shares on a cash-free debt-free basis of £ 19 million was paid in cash upon completion of the transaction. In addition, a further potential and variable purchase price component (earn out) of up to £ 6.3 million was agreed. This earn out depends on the achievement of certain agreed performance goals over the next three years and would be payable in 2018.
The previous owners, Doug Nourse and Jon Powell, will continue to be responsible for the future development of the company after completion of the transaction. "We're excited to have found such an ideal purchaser as TAKKT for BiGDUG, and they will help facilitate our further growth to make BiGDUG even bigger," said co-founder Doug Nourse.
BiGDUG will be included in the TAKKT Group figures starting July 2, 2015.
About TAKKT AG
The TAKKT Group has over 2,000 employees and just under three million customers worldwide. The company is listed on the SDAX and the Deutsche Boerse Prime Standard.
2015-07-02 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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