ITAB, one of Europe's largest suppliers of shop fitting concepts and lighting systems, has through subsidiary signed an agreement to acquire LICHTSPIEL Lichtprojekte und Design GmbH in Germany.
Lichtspiel Lichtprojekte & Design sells lighting products and light planning to retail chain stores primarily in Germany but also in the Central European market. The company is a sales company with expertise in light planning and design.
The acquisition is part of intensifying the market activities on the German and Central European market and strengthens ITAB's position. ITAB will through the acquisition offer the German and Central European customers a combination of local lighting knowledge with global sourcing of lighting products.
In 2015, the company reported sales of EUR 4 million and the cash consideration is EUR 2.3 million and an additional purchase price based on the company's profit for 2016 of max EUR 0.3 million. The takeover will be realized with immediate effect. The acquisition has a marginal positive impact on earnings per share.
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 2.30 p.m. 14th of April 2016.
For more information, contact:
ITAB Shop Concept AB
VD/CEO Ulf Rostedt
Telefon: +46 36 317300
Mobil: +46 706-948682