Subsidiary Acquisition
10/10/2022 07:00
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RNS Number : 3083C Zamaz PLC 10 October 2022
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the UK Market Abuse
Regulation. Upon the publication of the announcement via a regulatory
information service, this information is considered to be in the public
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10 October 2022
Zamaz plc
"Zamaz" or "the Company"
Subsidiary Acquisition
Second acquisition within five weeks of successful LSE Main Market Listing
Bella Dispensa acquires controlling stake in luxury food and wine retailer,
Eccellenze S.r.l. of Milan
Zamaz Plc, the London-based international e-commerce and retail technology
business, is pleased to announce its second acquisition since the Company's
successful Listing on the Main Market of the London Stock Exchange on 2
September 2022.
Following its acquisition of premium quality Italian meat retailer Ecocarni,
announced on 26 September, the Company's wholly owned subsidiary, Bella
Dispensa has agreed to acquire a 70 per cent. stake in Eccellenze S.r.l.
("Eccellenze") a luxury food products business based in Milan. Consideration
for the acquisition is €410,000, to be satisfied by the issue to the vendors
of 3,234,434 new Ordinary shares in Zamaz. Bella Dispensa also has a three
year option to acquire the remaining 30 per cent of Eccellenze for an
additional €240,000 in shares.
About Eccellenze
Eccellenze has a retail store located on Milan's prestigious Corso Venezia,
one of the city's most exclusive and elegant avenues, being part of the
upscale Quadrilatero della moda shopping district. Recently established in Q4
2021, Eccellenze has grown rapidly, and now offers over 1,000 premium quality
food products in-store, including cheese, pasta, wine and oil. Its highly
experienced management team has also developed a unique eno-gastronomic
"lifestyle shopping experience" for its growing, highly discerning client
base. For the 12 months to 30 September 2022 Eccellenze recorded continuously
growing sales of approximately €480,000 and operating profits of
approximately €230,000.
Acquisition Rationale
The acquisition of Eccellenze will enable all three luxury branded food
businesses within the Group to access each other's customer bases and
"cross-sell" products to a similar set of high quality clients. Moreover
Eccellenze has developed a platform to optimise margins on e-commerce sales
which Bella Dispensa intends to leverage in all its activities. Eccellenze
is also developing a premium catering delivery service in Milan and will now
be able to significantly enhance its offering whilst providing an additional
revenue source for both Bella Dispensa and Ecocarni.
Bella Dispensa has also recently signed a partnership agreement with renowned
Italian Michelin starred chef, Carlo Cracco to promote the Milanese store,
with a dedicated window of products. As part of the agreement, Carlo Cracco
will also be presenting his culinary creations to selected clients of Bella
Dispensa at several gastronomic events scheduled over the coming months.
https://www.finedininglovers.com/people/carlo-cracco
(https://www.finedininglovers.com/people/carlo-cracco)
Daniele Besnati MD of Bella Dispensa, commented:
"The acquisition of Eccellenze provides us with a great opportunity to benefit
from the very substantial growth in online luxury food and grocery shopping
both in Italy and internationally. Following on closely from our acquisition
of Ecocarni, we are building critical mass to enable us to accelerate our
development plans whilst at the same time further expanding our premium
customer base. As ever, quality and sustainability remain central to what we
do."
Chris Hill, CEO of Zamaz plc, added:
"This second acquisition, within just a few weeks of our Listing and again
using our shares as currency, further demonstrates Zamaz's key strategic
objective of scaling small and medium sized quality consumer brands which are
ecologically produced and ethically sourced. We have an exciting opportunity
to capitalise on the burgeoning adoption of Ecommerce with the addition of
another premium brand to our growing portfolio."
- Ends -
Enquiries:
Zamaz plc www.zamaz.tech
Chris Hill, CEO c/o zamaz@walbrookpr.com
Walbrook PR Limited
Paul Vann/Nick Rome/Joe Walker Tel: 020 7933 8780
or 07768 807631 / zamaz@walbrookpr.com
About Zamaz plc
Zamaz plc is a technology driven e-commerce business that originates,
acquires or licenses, operates and scales small and medium-sized brands with
category-winning products on global marketplaces. With ever prolific customer
data sources, the advent of turnkey e-commerce website platforms, such as
Shopify, and a thriving ecosystem of third-party software integrators, the
options available to launch and build brands that can be marketed, sold, and
shipped online quickly and globally with limited risk have never been more
compelling. Such marketplaces, led by Amazon and eBay, also provide connection
to millions of consumers, and have become a first-choice route-to-market for a
generation of micro and small and medium-sized enterprise businesses.
Zamaz mines and analyses data from such online retail technology platforms
which provide significant insights into consumer shopping behaviour and trends
and enable the business to deploy, market and sell an optimised portfolio of
brands, products, packs and prices aligned with active, real-time consumer
needs and demands principally on UK and EU Amazon marketplaces.
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