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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Springs Global Participacoes SA    SGPS3   BRSGPSACNOR4

SPRINGS GLOBAL PARTICIPACOES SA

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Springs Global Participacoes : concludes the transaction concerning its North American operations

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03/15/2019 | 08:49pm EDT

Springs Global concludes the transaction concerning its North

American operations

São Paulo, March 15, 2019 - Springs Global Participações S.A. (Springs Global, B3: SGPS3) informs that it has concluded today the transaction agreed with Keeco, an American home fashion company, to combine its North American operations, which was announced to the market on December 28th, 2018, after the fulfillment of all precedent conditions.

As part of this transaction, Springs Global will become a shareholder of a company with leading brands and a vast product portfolio in the curtain, utility bedding, and decorative bedding markets, as well as a diversified customer portfolio, including the major companies in the North American traditional ("bricks and mortar") and e-commerce retail market.

This business combination will strengthen Springs Global's participation in the North American market, through a significant equity ownership in a company with an extensive product portfolio, improved competitiveness, growth potential, and better profitability due to synergies. At the same time, it will enable Springs Global's management to focus on its South American business, with a more robust financial structure.

For further information, contact:

+55 11 2145-4476 ri@springs.com

Alessandra Gadelha - IR Officer alessandra.gadelha@springs.com

Disclaimer

Springs Global Participações SA published this content on 15 March 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 16 March 2019 00:48:07 UTC

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NameTitle
Josué Christiano Gomes da Silva Chief Executive Officer & Director
João Gustavo Rebello de Paula Chairman
Pedro Garcia Bastos Neto CFO & Director-Corporate Affairs
Daniel Platt Tredwell Director
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