Ratos new partner for Gudrun Sjödén
(Thomson Reuters ONE) -
This information is disclosed pursuant to the Swedish Securities Market Act, the
Swedish Financial Instruments Trading Act of requirements stipulated in the
listing agreement.
Ratos has signed an agreement to acquire approximately 30% of the shares in
Gudrun Sjödén Group AB, an international design company that has a unique,
colourful style and strong emphasis on sustainability. The purchase price
(enterprise value) for 100% of the company amounts to approximately SEK 725m, of
which Ratos will provide equity of about SEK 150m.
Gudrun Sjödén Design AB was founded in 1976 by Gudrun and Björn Sjödén, the
company's sole owners today. Gudrun still runs the company as active owner,
Managing Director and Creative Director. The Gudrun Sjödén brand is sold and
marketed globally through 21 of its own stores in seven countries, a global
webshop and mail order service as well as online sales, which is the largest
distribution channel. Through its unique design and colourful, personal
communication, the company has developed a strong relationship to its customers.
Customers use the international online sales channels in more than 50 countries,
with Germany and Sweden as the largest markets. The company targets women who
want practical, high-quality clothes and homeware products that have a unique,
timeless design and a sustainable profile. The market for Gudrun Sjödén's
designed apparel and homeware products is growing as demand for timeless models,
high quality and sustainable materials increases.
Ratos will invest in partnership with Gudrun and Björn Sjödén, who will continue
to own 70% after the transaction. In conjunction with the transaction, Ratos has
signed an agreement for an option to increase its holding a further 40% in
2018. The company has approximately 400 employees. Pro forma sales for 2015
amounted to SEK 715m and EBITA to SEK 76m.
"Gudrun Sjödén has a strong brand founded on a unique, timeless design. The
company has an impressive history of excellent growth and profitability based on
an international expansion in Europe and the US that is primarily driven by
online e-commerce. However, because the company still has a relatively low
market share outside Sweden, it's potential to grow is great. In partnership
with Gudrun and the rest of the team, we are putting together an ambitious
business plan in which we will develop operations together and continue to grow
globally," says Lars Johansson, Investment Director and acting CEO of Ratos.
"I have been looking for a partner that has the relevant expertise and
experience to enable our organisation to grow even more and realise the brand's
full potential. We recognise that Ratos is an established and responsible
investor and believe that their experience of active ownership, their strong
value foundation and their clear sustainability profile will benefit us as we
continue to grow and develop," says Gudrun Sjödén, Founder and Managing
Director.
Ratos is acquiring approximately 30% of Gudrun Sjödén Group AB. The purchase
price (enterprise value) for 100% amounts to approximately SEK 725m. Based on
estimated net debt on completion of the deal, Ratos is expected to provide
equity of about SEK 150m for its 30%. In conjunction with the transaction, Ratos
has signed an agreement for an option to increase its holding a further 40% in
2018. The acquisition is subject to approval by the relevant authorities and is
expected to be completed in the third quarter.
For further information, please contact:
Elin Ljung, Head of Corporate Communications, +46 8 700 17 20
Financial calendar from Ratos:
Interim report January-June 2016 19 August 2016
Interim report January-September 2016 10 November 2016
Ratos is an investment company that owns and develops unlisted medium-sized
Nordic companies. Our goal as an active owner is to contribute to the long-term
and sustainable business development in the companies we invest in and to make
value-generating transactions. Ratos's portfolio consists of 19 medium-sized
Nordic companies and the largest segments in terms of sales are Construction,
Industrials and Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and
has a total of approximately 16,000 employees.
Press release (PDF):
http://hugin.info/1180/R/2024668/752366.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ratos via GlobeNewswire
[HUG#2024668]
Unternehmensinformation / Kurzprofil:
Datum: 01.07.2016 - 11:58 Uhr
Sprache: Deutsch
News-ID 481258
Anzahl Zeichen: 5350
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 295 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Ratos new partner for Gudrun Sjödén"
steht unter der journalistisch-redaktionellen Verantwortung von
Ratos (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
