Brief: Duni Unit Acquires Horizons Supply In Australia

Duni AB

01/10/2019 15:51

Oct 1 (Reuters) - Duni AB  DUNI.ST :
    * COMPLEMENTARY ACQUISITION IN CUSTOMIZED SUSTAINABLE
PACKAGING
SOLUTIONS IN AUSTRALIA
    * SUBSIDIARY BIOPAK PTY LTD ACQUIRES 100% OF HORIZONS SUPPLY
PTY
LTD FROM ENTREPRENEURS ANDREW BURGESS AND DOV BRENER
    * PURCHASE PRICE IS APPROXIMATELY SEK 40 M FOR 100% OF
COMPANY AND
IS COVERED WITHIN EXISTING LOAN FACILITIES
    * 80% OF PURCHASE PRICE WILL BE PAID ON ACQUISITION DATE AND
20%
WILL BE PAID AS AN ADDITIONAL PAYMENT ON OCTOBER 1 2020
    * ACQUISITION WILL BE REPORTED WITHIN BUSINESS AREA NEW
MARKETS IN
DUNI AS FROM OCTOBER 1 2019
    * HORIZONS' ANNUAL TURNOVER IS APPROXIMATELY SEK 60 M WITH
AN
OPERATING MARGIN IN LINE WITH DUNI'S FINANCIAL TARGETS
    * HORIZONS EMPLOYS SIX EMPLOYEES AND HAS ITS OFFICE IN
MELBOURNE

Source text for Eikon:  ID:nWkr1bkvfN 
Further company coverage:  DUNI.ST 

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