ITAB, one of Europe's largest suppliers of shop fitting concepts and lighting systems, has through subsidiary signed an agreement to acquire 51 percent of Reklamepartner in Norway.
The cash consideration is NOK 4 million and the takeover will be realized with immediate effect. In 2013, the company reported sales of NOK 25 million and the acquisition has a marginal positive impact on earnings per share.
Reklamepartner is producing and selling store communication such as signs, banners and canopies to the Norwegian retail market.
ITAB will through the acquisition offer the Norwegian customers' production of store communication, which is an important part of the store concept. This is in consistent with the Group's continued focus on the concept and lighting sales and will further strengthen ITAB's offer.
This information was submitted for publication 5th of December 2014 at 02.10 p.m.
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 approximately 2,400 employees and a turnover of SEK 3,574 million in 2013.