Following approval from its extraordinary general meeting, Camplify Holdings has entered into an agreement to acquire 100% of Berlin based Paul Camper for EUR30.9m, and has subsequently announced an $8.5m equity raise. 

Morgans highlights the acquisition is not only the leading peer-to-peer RV marketplace in Germany, with 92% market share, but a presence in the Netherlands, Austria and the UK, and provides a platform for Camplify Holdings to expand in Europe. The broker finds the purchase to offer prodigious offshore opportunity for Camplify Holdings.

The Add rating is retained and the target price decreases to $2.60 from $3.70.

Sector: Transportation.

Target price is $2.60.Current Price is $1.99. Difference: $0.61 - (brackets indicate current price is over target). If CHL meets the Morgans target it will return approximately 23% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena