DGAP-News: TAKKT AG / Key word(s): Takeover
TAKKT Acquires Leading British Online Retailer for Office Furniture
"The focus on successful online sales, a great deal of expertise in private label brands, the attractive range of products and an excellent team of employees make OfficeFurnitureOnline a great addition to our newly created newport group. This acquisition is the next step for us in our portfolio strategy to strengthen online activities," Felix Zimmermann, CEO of TAKKT AG, commented.
The purchase price, on a cash free, debt free basis, amounted to GBP 35 million. In addition to that, a further potential and variable purchase price component (earn out) of up to GBP ten million was agreed. This earn-out depends on the achievement of certain performance goals for the company over the next three years, and would be payable in 2021. The company will continue to be managed by the family that founded and owned the company, with Martin and Michael Hutchinson as representatives. "We are very happy to have found a partner in TAKKT who will help us to continue and expand the strong growth of recent years. We believe that the cooperation and exchange with the other companies of TAKKT and the newport group will provide many exciting opportunities for both sides," said Martin Hutchinson.
TAKKT is the leading B2B direct marketing specialist for business equipment in Europe and North America. The Group is represented with its brands in more than 25 countries. The product range of the subsidiaries comprises more than 500,000 products for the areas of plant and warehouse equipment, office furniture, transport packaging, display articles and equipment for the food service industry, hotel market and retailers. The TAKKT Group has over 2,000 employees and just under three million customers worldwide. The company is listed on the SDAX and Deutsche Börse Prime Standard.
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|DGAP News Service