Brief: TCM Group Buys Stake In Celebert, Enters Deal To Merge E-Commence Activities

TCM A/S

06/07/2021 09:14

July 6 (Reuters) - TCM Group A/S  TCM.CO :
    * REG-TCM GROUP ENTERS INTO A STRATEGIC PARTNERSHIP WITH AND
ACQUIRES STAKE IN FAST GROWING DANISH E-COMMERCE KITCHEN
BUSINESS CELEBERT
    * TRANSACTION WHERE TCM GROUP WILL MERGE ITS E-COMMERCE
ACTIVITIES
IN KITCHN.DK WITH ACTIVITIES OF CELEBERT
    * WILL INITIALLY ACQUIRE A 45% STAKE IN CELEBERT
    * FINANCIAL IMPACT OF TRANSACTION ON 2021 RESULTS OF TCM
GROUP
WILL BE MINIMAL.
    * WILL ACT AS A SUPPLIER TO COMBINED CELEBERT/KITCHN.DK
BUSINESS,
PRIMARILY THROUGH AULUM FACTORY
    * FOR 2022, WHEN PARTNERSHIP WILL HAVE FULL-YEAR IMPACT,
EBIT OF
TCM GROUP WILL BE IMPACTED POSITIVELY BY APPROXIMATELY DKK 8-10
MILLION, BASED ON CURRENT MARKET CONDITIONS.
    * INITIAL ACQUISITION OF 45% OF CELEBERT PLUS INCLUSION OF
KITCHN.DK ACTIVITIES WILL REQUIRE AN INVESTMENT OF A MAXIMUM OF
DKK 29 MILLION FOR TCM GROUP, INCLUDING AN EARN OUT ELEMENT.
    * AS PART OF AGREEMENT WITH CELEBERT, TCM GROUP WILL ACQUIRE
AN
OPTION TO ACQUIRE REMAINING 55% OF CELEBERT/KITCHN.DK BUSINESS
AT A LATER DATE

Source text for Eikon:  ID:nGNE3WKxT1 
Further company coverage:  TCM.CO 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 6600;))