"The Grimfrost team are not only passionate and knowledgeable about our history - they are also true entrepreneurs who have taken the company to a market leading position within a niche that is more popular than ever before. The merger opens up for internal collaboration with Viking themed-games within the group. Besides Grimfrost being a leading, growing and profitable business, this will also contribute with deep knowledge of how to build a global e-commerce and merchandise business around one brand. Importantly, with Grimfrost being headquartered in the home of Embracer, Värmland, it adds to our growing Swedish-based group of companies", says
Background and rationale
Grimfrost, founded in 2014, is a leader within high-quality Viking merchandise. Its headquarters are located in Karlstad,
"The heritage and long tradition of knowledge, integrity and service has been our vision with Grimfrost and we are excited to join forces with Embracer to grow our business and community" says Ismo Arvenhav, Co-founder and CEO of Grimfrost.
Through the acquisition, Embracer onboards an experienced team that will provide Embracer with significant knowledge within global B2C e-commerce. Through the partnership, Embracer will facilitate Grimfrost to better position itself for international markets, team expansion and product development, enabling Grimfrost to capitalize on current potential and unmet demand. Grimfrost's expertise caters for further collaboration opportunities with other entities within
Purchase Price
The parties have agreed not to disclose the transaction terms. The purchase price structure is based on a cash upfront payment and is in line with previous Embracer transactions.
Completion of the transaction
The transaction was completed as of
Advisers
For additional information, please contact:
Tel: +46 708 47 19 78
E-mail: lars.wingefors@embracer.com
About
With its head office based in Karlstad,
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For more information, please visit: https://www.embracer.com
Webcast presentation for investors, analysts and media
Representatives from
[1] The acquisition is carried out through Embracer's its wholly-owned subsidiary Embracer Group Lager 9 AB
https://news.cision.com/embracer-group-ab/r/embracer-group-acquires-grimfrost,c3392459
https://mb.cision.com/Main/15049/3392459/1450884.pdf
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