ITAB, one of Europe's largest suppliers of shop fitting concepts, checkouts and lighting systems, has signed an agreement to acquire MB Shop Design AB in Hillerstorp, Sweden.
MB Shop Design has production in wood and metal, store-keeping and sales of shop fitting concepts to the retail chain stores in the Swedish and Danish market.
Through the acquisition ITAB strengthens its expertise and market position in the Scandinavian market and MB Shop Design can offer the customers a broader product portfolio within the check-out arena and professional lighting systems. The acquisition is in consistent with the Group's continued focus on the sale of the all-inclusive concept.
The takeover will be realized with immediate effect and the cash consideration is SEK 106 million. In 2015 the company's turnover was SEK 140 million and the number of employees is 75. The acquisition is expected to have a positive effect of 0.4 SEK earnings per share in 2016.
The information is such information that ITAB Shop Concept AB (publ) shall publish in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was published in Swedish at 9 a.m. 2th of May 2016.
For further information, please contact:
CEO, Ulf Rostedt Tel: +46 36 31 73 00
Cellphone: +46 70 694 86 82
ITAB Shop Concept AB is listed on the Nasdaq OMX Stockholm and sells, develops, manufactures and installs complete shop fitting concepts for retail chain stores. The all-inclusive offer includes custom-made fitting concepts, checkouts, self-checkout systems and professional lighting systems. Customers include the major players throughout most parts of Europe. ITAB is the market leader at checkout to retailers in Europe, and one of Europe's largest suppliers of shop fitting concepts and lighting systems. The group has after the acquisition approximately 2,900 employees and a turnover of SEK 5 193 million in 2015.