Brief: Jays Group Acquires Kavaj

Northbaze AB

20/03/2019 13:45

March 20 (Reuters) - Jays Group AB  JAYS.ST :
    * JAYS GROUP ACQUIRES THE GERMAN ECOMMERCE COMPANY KAVAJ
GMBH
    * TO ACQUIRE GERMAN ECOMMERCE COMPANY KAVAJ GMBH WITH
CLOSING DATE
1(ST) OF APRIL 2019.
    * SELLERS WILL HAVE A LOCK-IN OF THREE YEARS FROM CLOSING
DATE OF
ACQUISITION.
    * KAVAJ SALES BUDGET 2019 IS ABOUT 2 MEUR WITH A POSITIVE
EBITDA
MARGIN.
    * ACQUISITION WILL BE INTEGRATED AND INCLUDED IN JAYS GROUP
BUSINESS FROM Q2 2019
    * CASH PAYMENT OF APPROX. EUR 0.4 MILLION WILL BE HANDLED
THROUGH
A CREDIT FACILITY
    * INITIAL PURCHASE PRICE IS EUR 0.9 MILLION
    * ADDITIONAL EARN-OUT IS OF 30% RESPECTIVELY 20% OF EBITDA
PROFIT
OF KAVAJ DURING 2019 AND 2020
    * JAYS GROUP - TO PAY 55 PERCENT OF INITIAL PURCHASE PRICE
WITH
JAYS SHARES VIA DIRECTIVE RIGHT ISSUES TO KAVAJ FOUNDERS

Source text for Eikon:  ID:nGNEc8CJDB 
Further company coverage:  JAYS.ST 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))