(Alliance News) - B&C Speakers Spa announced Friday evening that it has acquired 100 percent of the share capital of Eminence Speaker LLC, a U.S.-based company, from Eminence Holdings LLC. At the same time, the company agreed to take over from Eminence Dongguan Enterprise Co. Ltd, which is also under the control of Eminence Holdings LLC, a significant part of its assets through a NewCo, the establishment of which is a prerequisite for the implementation of the agreement, wholly owned by B&C.

The agreed consideration for the two transactions is approximately USD4.5 million and was financed by B&C Speakers through the use of its own financial resources.

The establishment of the NewCo, with the consequent purchase of the assets from Eminence Dongguan Enterprise, "represents an operation aimed at acquiring the production factors considered strategic to consolidate and develop, also through additional investments, the volume of business achieved on the Asian market by the Eminence brand," the company specified in a note.

Lorenzo Coppini, CEO of B&C Speakers commented, "This acquisition allows the B&C group to strengthen its international presence and also offers the opportunity to relaunch and enhance an iconic American brand. By joining forces we can exploit strong synergies, as we found with the acquisition of Eighteen Sound in 2018. We can offer our customers a wider range of world-class prodoties and produce them where they need them."

B&C Speakers on Friday closed 0.7 percent in the red at EUR15.20 per share.

By Chiara Bruschi, Alliance News reporter

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