On
Peter Blom , CEO of Fuud comments:- I am glad that we have now completed the acquisition processes of GI-Boxen and Foodbox - we can now realize the synergies we have identified in our merger, and it will be fun to continue our journey together with these companies and brands. I welcome all the competent people who, through GI-Boxen and Foodbox, join our organization, and look forward to creating further success in our collaboration in the future. Through the acquisitions of GI-Boxen and Foodbox, we strengthen our digital presence while enabling cross-selling of our other brands at all the gyms and training facilities that currently sell Foodbox dishes. In addition, we create good conditions for scaling up sales and presence for GI-Boxen and Foodbox, by letting our other organization work to develop these new brands.
About the acquisitions
On
In addition, additional purchase sums can be paid for the financial years 2022 and 2023. For GI-Boxen, additional purchase sums corresponding to 50 percent of EBITDA in GI-Boxen can be paid during the respective financial years. Any additional purchase consideration must be paid by the Company by cash payment. For Foodbox, additional purchase sums of a maximum of SEK 2.5 million per financial year can be paid if the company's sales exceed certain specified threshold amounts during each financial year. Any additional purchase consideration shall be paid by cash payment or in the form of newly issued additional purchase consideration shares in the Company. Additional purchase price shares are then issued at a subscription price corresponding to the volume-weighted average price of Fuud's shares on the Nasdaq First North Growth Market during the 30 trading days immediately preceding the day of that issue decision.
Issue and lock-up commitment
The initial purchase price of a total of
The reason for the deviation from the shareholders' preferential rights is that
The new share issue causes a dilution effect for the Company's existing shareholders of approximately 19.3 percent. The distribution of major shareholders' shares in the Company after registration of the new share issue is shown in the table below.
Shareholders | Shares | Ownership (%) |
702,869,453 | 80.7 | |
Hälsa | 98,641,304 | 11.3 |
Set your | 69,945,652 | 8.0 |
Total | 871,456,409 | 100 |
Fuud and the sellers of Foodbox and GI-Boxen have further agreed on a lock-up of three months from this date, which includes a commitment not to sell, transfer or pledge the newly issued shares or carry out transactions with equivalent effect through trading on Nasdaq First North Growth Market or other marketplace on which the Company's shares are admitted to trading.
About GI-Boxen and Foodbox
GI-Boxen is a fast-growing company in E-commerce with a proven ability to grow profitably in the healthy food segment. GI-Boxen markets and sells a selection of nutritious and tasty frozen ready meals. The dishes contain a carefully selected balance between proteins, natural fats and healthy carbohydrates. The company has grown annually since 2018, and has been profitable for more than ten years. GI-Boxen attracts a broad target group and is mainly aimed at three typical customer profiles: Weight loss with a focus on weight reduction where consumers follow GI-Boxen's set diet program. Lifestyle with a focus on simplifying everyday life. Elderly with a focus on nutritious food and simplicity.
Foodbox has a strong position in the exercise and health segment with over 500 retailers in
For further information on the acquisitions, see press releases from March 28, 2022 and May 20, 2022 , available on Fuud's website, www.fuudunited.com.
For more information, please contact:
E-mail: peter.blom@fuudunited.com
Telephone: 070-655 56 98
About the Fuud Group
With the vision of becoming a leading Nordic company in the FMCG market, Fuud brings together a number of exciting Swedish brands within Functional Foods under one roof, in order to jointly challenge the existing players in one of the food industry's fastest growing categories.Fuud is growing through a combination of organic growth and acquisitions with a strong focus on high-quality content, exciting innovations and attractive design. Fuud's goal is to offer new and better alternatives than those already on the market, and at the same time contribute to both better health and increased quality of life for the Nordic population.
With a naturally built-in forward-thinking spirit, a strong and motivated sales force and a number of experienced key players in management and the board, Fuud has created a balance between muscle, drive and experience. The Fuud Group currently has the following brands: iQ Fuel, Homie, Beijing8, Juica, Juice Culture, Bacoccoli, Frill, Nathalie's, Barfly, Bezzt of Nature and Legendz.
The company is based in Stockholm and is listed on the Nasdaq First North Growth Market, short name Fuud . FNCA Sweden AB is the company's Certified Adviser. Tel. +46 (0) 8 528 00 399, email info@fnca.se.
Important information
Fuud is growing through a combination of organic growth and acquisitions with a strong focus on high-quality content, exciting innovations and attractive design. Fuud's goal is to offer new and better alternatives than those already on the market, and at the same time contribute to both better health and increased quality of life for the Nordic population.
With a naturally built-in forward-thinking spirit, a strong and motivated sales force and a number of experienced key players in management and the board, Fuud has created a balance between muscle, drive and experience. The Fuud Group currently has the following brands: iQ Fuel, Homie, Beijing8, Juica, Juice Culture, Bacoccoli, Frill, Nathalie's, Barfly, Bezzt of Nature and Legendz.
The company is based in Stockholm and is listed on the Nasdaq First North Growth Market, short name Fuud . FNCA Sweden AB is the company's Certified Adviser. Tel. +46 (0) 8 528 00 399, email info@fnca.se.
Important information
The company is based in Stockholm and is listed on the Nasdaq First North Growth Market, short name Fuud . FNCA Sweden AB is the company's Certified Adviser. Tel. +46 (0) 8 528 00 399, email info@fnca.se.
Important information
THIS PRESS RELEASE MAY NOT BE PUBLISHED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, WITHIN OR TO
Publication, publication or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions in which this press release has been published or distributed should inform and comply with such legal restrictions. This press release may not be published, published or distributed, in whole or in part, directly or indirectly, within or to
This press release neither identifies nor pretends to identify risks (direct or indirect) that may be attributable to an investment in
Forward-looking information
This press release contains forward-looking statements regarding the Company's intentions, assessments or expectations regarding the Company's future results, financial position, liquidity, development, prospects, expected growth, strategies and opportunities as well as the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and can be identified by the fact that they contain expressions such as "consider", "expect", "anticipate", "intend", "appreciate", "will", "may", "assume", "Should" "could" and, in any case, negations thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on additional assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, it cannot be guaranteed that they will be true or correct. As these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, the actual result or outcome may, for many different reasons, deviate significantly from what appears from the forward-looking statements. Such risks, uncertainties, contingencies and other significant factors may cause the actual development of events to deviate materially from the expectations expressly or implicitly stated in this press release through the forward-looking statements. The company does not guarantee that the assumptions on which the forward-looking statements in this press release are based are correct and every reader of the press release should not reluctantly rely on the forward-looking statements in this press release. The information, perceptions and forward-looking statements expressly or implied herein are provided only as of the date of this press release and are subject to change. Neither
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