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MarketScreener Homepage  >  Equities  >  Xetra  >  TAKKT AG    TTK   DE0007446007

TAKKT AG

(TTK)
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2019-05-03 TAKKT AG: TAKKT acquires Dutch e-commerce food service supplier

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05/03/2019 | 10:23am EDT

03.05.2019 / 16:10
The issuer is solely responsible for the content of this announcement.

P R E S S R E L E A S E

TAKKT acquires Dutch e-commerce food service supplier

Stuttgart, Germany, May 03, 2019. The TAKKT Group company newport.TAKKT GmbH has entered into a purchase agreement for the acquisition of 100 percent of the shares of XXL Horeca. The signing of the contract and closing of the transaction took place today. In the 2018 fiscal year, the company generated sales of approximately EUR 14 million and recorded an EBITDA margin in the double-digit percentage range. XXL Horeca will be part of the Newport group within the TAKKT EUROPE segment.

XXL Horeca is an e-commerce business specialized in food service supplies. The company primarily supplies business customers, such as hotels, restaurants, cafeterias and catering companies. Established in 2013, the company is based in the Dutch city of Wormerveer, has over 20 employees and sells catering supplies - particularly kitchen utensils and equipment as well as presentation utensils. Their product range includes around 21,000 items, which are exclusively sold online. The majority of products are sent directly by the supplier to the customer via drop shipment. XXL Horeca relies heavily on private label brands, has a high level of product expertise and offers attractive value for money. TAKKT Management Board member Heiko Hegwein, responsible for the Newport group, said: 'XXL Horeca will benefit from the Newport network, which will allow it to strengthen its competitive position.'

The catering supplier is active as a one-stop shop in the Netherlands, Belgium and France, and has also been selling in Germany and Austria since February 2019. Founder Julian van Vliet and his management team will remain in charge of operations. 'We are very happy that, from now on, we will continue promoting the strong growth of recent years together with TAKKT,' said van Vliet.

The purchase price amounts to EUR 19.5 million. TAKKT is financing the acquisition using free credit lines. In addition, a further two-level potential and variable purchase price share (earn out) was agreed. The amount of the payout depends on whether the company achieves the performance goals set and would be payable in 2020 and 2022.

About TAKKT AG
TAKKT is the leading B2B direct marketing specialist for business equipment in Europe and North America. The Group is represented with its brands in more than 25 countries. The product range of the subsidiaries comprises more than one million products for the areas of plant and warehouse equipment, office furniture, transport packaging, display articles and equipment for the food service industry, hotel market and retailers. The TAKKT Group has over 2,500 employees. The company is listed on the SDAX and Deutsche Börse Prime Standard.

Contacts:
Dr. Christian Warns Tel. +49 (0) 711 3465-8222
Giuseppe Palmieri Tel. +49 (0) 711 3465-8250
Email: 4investor@takkt.de

03.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Disclaimer

TAKKT AG published this content on 03 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 May 2019 14:22:07 UTC

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Financials (EUR)
Sales 2019 1 213 M
EBIT 2019 125 M
Net income 2019 85,0 M
Debt 2019 165 M
Yield 2019 5,17%
P/E ratio 2019 9,34x
P/E ratio 2020 8,99x
EV / Sales2019 0,78x
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