BHG Group AB (OM:BHG) agreed to acquire a 92.2% stake in HYMA Skog & Trädgårds AB from Verdane Edda, managed by Verdane and HYMA management team for approximately SEK 1.1 billion.
June 08, 2021
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BHG Group AB (publ) (OM:BHG) agreed to acquire a 92.2% stake in HYMA Skog & Trädgårds AB from Verdane Edda, managed by Verdane and HYMA management team for approximately SEK 1.1 billion on June 9, 2021. Under the terms, BHG will pay SEK 542 million in cash consideration and SEK 458 million through issue in kind. In addition, there is an earn-out based on EBITA for 2022 of up to SEK 500 million. BHG’s Board of Directors intends to approve an issue of 2.89 million shares to the sellers of HYMA. For the year ended 2020, HYMA reported a revenue of SEK 744 million. Anders Carlsson and the rest of the management team at HYMA will continue to lead the company’s operations, which will be consolidated with BHG’s DIY segment. The transaction is contingent on the customary regulatory approval. Transaction is expected to be completed in the third quarter of 2021. Carnegie Investment Bank AB (publ) acted as financial advisor to BHG Group AB (publ) (OM:BHG). Vinge acted as legal advisor to BHG Group AB (publ) (OM:BHG). Pwc Strategy& (Sweden) Ab acted as due diligence advisor to BHG Group AB (publ) (OM:BHG). SEB Corporate Finance acted as Sole Financial Advisor to Verdane and HYMA in the transaction. Andulf Advokat as legal advisor to Verdane and HYMA Skog & Trädgårds.
BHG Group AB, formerly Bygghemma Group First AB, is a Sweden-based online provider of home improvement products. The Companyâs operations comprise two segments: DIY and Home furnishing. The DIY segment includes do it yourself products for home and garden improvement. It comprises such online stores as bygghemma.se, netrauta.fi, taloon.com, frishop.dk, badshop.se, talotarvike.com, stonefactory.se, golvpoolen.se, lindstromsbad.se, vitvaruexperten.se, tvexperten.se, among others, as well as showrooms. The Home furnishing segment sells furniture and decor. It includes such online stores as trademax.se, chilli.se, kodin.fi, furniturebox.se, myhomemobler.dk and wegot.se, among others, as well as showrooms. The Company operates in Sweden, Finland, Norway and Denmark.
BHG Group AB (OM: BHG) agreed to acquire a 92.2% stake in HYMA Skog & Trädgårds AB from Verdane Edda, managed by Verdane and HYMA management team for approximately SEK 1.1 billion.