ITAB, one of Europe's largest suppliers of shop fitting concepts and lighting systems, has through subsidiary signed an agreement to acquire Profile Lighting in the UK.
Profile Lighting sells lighting products to retail chain stores with focus on the non-food market in the UK. The company is a sales company with store-keeping and a small production unit for specialized lighting products.
ITAB will through the acquisition offer the British customers a combination of local lighting knowledge with global sourcing of lighting products. This is in consistent with the Group's continued focus on the concept and lighting sales and will further strengthen ITAB's position in the UK market
The cash consideration is GBP 1,8 million and the takeover will be realized with immediate effect. In 2013, the company reported sales of GBP 8 million and the acquisition has a marginal positive impact on earnings per share.
This information was submitted for publication 19th of November 2014 at 12.45 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 OMX Nordic Exchange 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.