Beter Bed Holding completed divestment Matratzen Concord
02 Dezembro 2019 - 10:00AM
Beter Bed Holding completed divestment Matratzen Concord
On 2 December 2019, Beter Bed Holding
successfully completed the divestment of the Matratzen Concord
companies in Germany, Austria and Switzerland to Magical Honour
Limited for a purchase price of € 5.0 million in cash on
a cash-and-debt free basis. As part of the transaction, Beter Bed
Holding also issued 2.15 million new shares to Magical Honour
Limited for € 2.32 per share, representing a total equity
investment of € 5.0 million in Beter Bed Holding in cash.
John Kruijssen, CEO of Beter Bed
Holding, comments:“We are pleased that we completed the
transaction with Magical Honour Limited to both divest Matratzen
Concord and to issue new shares. With this transaction we reached a
major milestone of the turnaround of Beter Bed Holding into a
smaller, flexible, growth-orientated and profitable company with a
leading position in the Benelux. To drive sales growth in 2020, we
will focus on our core markets and further develop the omnichannel
route-to-market. The refined strategy for the transformed company
will be presented at a Capital Markets Day in April 2020.
The net debt of our transformed company is
substantially improving following (i) the completed transaction
with proceeds which amount to € 10 million in cash and (ii) the
sale-and-leaseback program that is currently being completed for
the distribution centers, which is expected to lead to net cash
proceeds of € 16 million which will be used for the
prepayment of bank debt.
We are pleased with the new owner of Matratzen
Concord. Magical Honour Limited has committed to the necessary
investments of € 15 million and will bring the global industry
experience to transform Matratzen Concord. We wish them and all
stakeholders of Matratzen Concord, and especially the employees,
all the best in their joint future.”
Profile Beter Bed Holding is a
European retail organisation that offers its customers the best
quality rest at affordable prices. The organisation’s aim is to do
this through its international retail brands, through its own
wholesaler operation DBC International and, at an increasingly
relevant share, through Digital channels.
This press release contains inside information
within the meaning of Article 7(1) of the EU Market Abuse
Regulation.
For more information
John
Kruijssen
Hugo van den Ochtend
CEO CFO
+31 (0)413
338819
+31 (0)413
338819
+31 (0)6
13211011
+31 (0)6
25746309
john.kruijssen@beterbed.nl
hugo.vandenochtend@beterbed.nl
Please click on the link below for the PDF of the press release.
Press photos can be downloaded here.
Beter Bed Holding NV (EU:BBED)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Beter Bed Holding NV (EU:BBED)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024