TAKKT acquires leading US mail order company for restaurant equipment; customer portfolio further diversified in the service sector

TAKKT AG / Acquisition

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

Today, TAKKT AG's supervisory board has approved the acquisition of Central
Products LLC ('Central') by the group company K + K America Corporation.
The transaction has been signed and closed immediately afterwards. With the
acquisition of Central - the US market leading company in the mail order
market for restaurant equipment and supplies - TAKKT is further
strengthening its US portfolio.

With a turnover of approx. USD 70 million and an EBITDA-margin of nearly 13
percent in 2008, Central is the market leading player in the USD 5 billion
restaurant equipment and supplies market, which showed a relatively stable
growth about five percent in the last 20 years. Central was founded in 1981
and has outperformed the market growth over the last 10 years.

In contrast to TAKKT's Hubert business offering mainly smallwares and value
added services to larger multi-location customers, Central is also offering
larger foodservice equipment to independent small to medium size customers
in the restaurant market. 'Central perfectly complements our Hubert
business and will allow us to pursue our tried and tested multi-brand
strategy also in the food-service industry', notes Georg Gayer, CEO of
TAKKT AG. 'Besides strengthening our portfolio in the service sector, the
acquisition will generate back-end synergies with the existing businesses
in North America, for example in the areas of purchasing, printing and
transport', adds Dr Felix A. Zimmermann, COO of the K + K America division.

With its product range of about 14.000 articles Central serves about 75.000
customers via a 300+ page catalogue and the internet, supported by a strong
telephone sales team. Like TAKKT, Central follows a mixed logisitics
approach of drop and stock shipments. About 40 percent of the sales are
generated with articles from the 8,400 sqm warehouse at the headquarters in
Indianapolis, the remaining 60 percent being delivered directly from the
suppliers to the customers. Central currently has around 130 employees.

'Despite an assumed decline in turnover and profits in the business and
valuation case for the current year, the transaction will be cash earnings
accretive and is expected to earn its cost of capital right from the
beginning' comments TAKKT's CFO Dr Florian Funck. 'Furthermore it will
enhance the profitability of our K + K America division'.

TAKKT acquires Central from Johnson Ventures - a family controlled
investment holding with a strategic investment focus on businesses in the
wider Indiana area. Johnson Ventures is selling Central for personal
reasons and to allocate capital to other businesses.

The purchase price consists of a base price of USD 83 million (approx. EUR
62 million) and an earn-out component, which is related to gross profit
generation over the next 12 months. Based on the current performance of
Central, the earn-out component will not be substantial. The acquisition is
financed by TAKKT from existing long-term committed credit facilities.
'Even after the closing of the transaction and the payment of the proposed
dividend of EUR 0.80 per share in May 2009, TAKKT will still have a solid
balance sheet structure with an equity ratio above 40 percent. This leaves
enough room to finance future growth', comments Gayer.
03.04.2009  Financial News transmitted by DGAP
Language:     English
Issuer:       TAKKT AG
              Presselstr. 12
              70191 Stuttgart
Phone:        +49 (0)711 346 58 -0
Fax:          +49 (0)711 346 58 - 10
E-mail:       investor@takkt.de
Internet:     www.takkt.de
ISIN:         DE0007446007
WKN:          744600
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
              Freiverkehr in Berlin, Düsseldorf, München
End of News                                     DGAP News-Service

Your Contact

Michael Loch
Michael Loch
Head of Investor Relations
Tel: +49 711 3465-8222