ITAB, one of Europe's largest suppliers of shop fitting concepts, checkouts and lighting systems, has signed an agreement to acquire JPD in Latvia. The takeover will be realized with immediate effect and the cash consideration is EUR 6.4 million and a premium based on the company's profit for the two coming years. In 2014 the company's turnover was EUR 11.5 and the acquisition is expected to have a positive effect of 0,5 SEK earnings per share in 2015.
JPD is mainly focused on concept sales to retail chain stores on the European market. The company is a sales company with store-keeping and production.
ITAB will through the acquisition offer the European customers a combination of local production with global sourcing of retail concepts and lighting. This is consistent with the Group's continued focus on the concept and lighting sales and will further strengthen ITAB's position on the European market.
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 at 11.15 a.m. 4th of February 2015.
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 2,750 employees after the acquisition and a turnover of SEK 3,574 million in 2013.