Ratos acquires Plantasjen
(Thomson Reuters ONE) -
Ratos acquires Plantasjen
Ratos has signed an agreement to acquire 100% of the shares in Plantasjen, the
Nordic region's leading chain store for plants and gardening accessories from
funds advised by Apax Partners, a leading global private equity advisory firm.
The purchase price (equity value) for 100% of the company is approximately NOK
1.2 billion, corresponding to an enterprise value of approximately NOK 2.9
billion.
Plantasjen is the Nordic region's leading chain for sales of plants and
gardening accessories, with a total of 124 stores in Norway, Sweden and Finland,
and a primary focus on the consumer segment. The market for plants and gardening
accessories is supported by stable growth and underlying positive trends in the
form of increased interest in cultivation, plants and interior design. Since its
founding in 1986 in Norway, Plantasjen has developed its operations,
strengthened its brand and established itself broadly in the Nordic region, and
it now holds a leading position in the market. Plantasjen has about 1,200
employees and generated sales of approximately NOK 3.7 billion in the last
twelve months leading up to June 2016, with operating profit (EBITDA) of
approximately NOK 370m.
"Plantasjen's leading market position, strong brand and product offering in a
market with stable growth is highly attractive. We anticipate continued high
potential for increased sales in both current garden centres and the new
investments in smaller, more centrally located stores. The company is currently
working to sharpen its focus on its range of plant products, in order to meet
the increased interest in plants and cultivation, which we consider to be a
successful strategy for continued growth in value. Our experience in driving
growth in consumer companies, combined with the company's strong management and
ambitious business plan, makes this a particularly interesting investment for
Ratos," explains Lars Johansson, Acting CEO at Ratos.
"The plant industry has considerable potential. Plantasjen's operations are
based on a positive core product that customers and employees cherish and have a
genuine interest in. Plantasjen has a strong brand and a broad establishment in
the Nordic region, and operates within an attractive market segment where we see
considerable development potential to further build on these strengths. Combined
with Ratos's experience, competence and capital, the capacity represented by the
leading brand of plants in all channels offers great potential to further
strengthen our market position in the Nordic region," says Jon Abrahamsson Ring,
President and CEO of Plantasjen.
Ratos is acquiring 100% of the shares of Plantasjen. The purchase price (equity
value) for 100% amounts to approximately NOK 1.2 billion. Based on estimated net
debt on completion, the enterprise value for the transaction equals
approximately NOK 2.9 billion. The acquisition is subject to approval by the
relevant authorities and is expected to be completed in the fourth quarter.
For further information, please contact:
Elin Ljung, Head of Corporate Communications at Ratos, +46 8 700 17 20
Lars Johansson, Acting CEO of Ratos, +46 8 700 17 00
Johan Ramsten, Media Relations at Plantasjen, +46 70 971 12 85
Ratos is an investment company that owns and develops unlisted medium-sized
Nordic companies. Our goal as an active owner is to contribute to long-term and
sustainable business development in the companies we invest in and to make
value-generating transactions. Ratos's portfolio consists of 21 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 16,100 employees.
Press release:
http://hugin.info/1180/R/2044675/763569.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ratos via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 27.09.2016 - 08:00 Uhr
Sprache: Deutsch
News-ID 497137
Anzahl Zeichen: 4607
contact information:
Town:
Stockholm
Kategorie:
Business News
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