DGAP-News: TAKKT AG / Key word(s): Takeover
TAKKT Acquires Swedish Direct Marketer for Business Equipment
Runelandhs, founded in 1992 and based in Kalmar, Sweden, employs around 20 people and sells business and office equipment. Their product range includes around 15,000 items, which are distributed using a multi-channel approach. Runelandhs has a high level of product expertise and offers an attractive range of affordable products. So far the KAISER+KRAFT group has been represented by the brand Gerdmans in Sweden, Denmark, Finland and Norway which offers a similar product range with a stronger focus on office furniture. Together with Runelandhs, Gerdmans will become one of the leading direct marketer for business and office equipment in Sweden.
"With its complementary product range, attractive customer base and profitable growth, Runelandhs is an ideal bolt-on acquisition for KAISER+KRAFT group's existing activities in the Nordics," explained Felix Zimmermann, CEO of TAKKT AG. Through the merger with Gerdmans, TAKKT also wants to harness synergy potential, for example by improving purchasing conditions and broadening the product range. "Runelandhs has not operated a warehouse so far. By using the Gerdmans warehouse, we can achieve better purchasing conditions and increase product availability," said Zimmermann.
Runelandhs has been owned by the US-based Brady Corporation since 2012. The Managing Director Sven Hansson will remain responsible for management. "We are really looking forward to being able to continue following our adopted growth strategy together with TAKKT and Gerdmans," said Sven Hansson.
The purchase price, free of financial debt and cash, amounts to 174 million Swedish krona (equivalent to around 17 million euros). TAKKT is financing the acquisition using existing committed credit lines. "Even after the purchase, TAKKT will have sufficient free credit lines for additional company acquisitions," explained CFO Claude Tomaszewski.
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|End of News||DGAP News Service|