ITAB - ITAB Shop Concept has signed an agreement to acquire New Store Europe Denmark AS

ITAB Shop Concept has signed an agreement to acquire New Store Europe Denmark AS

10/23/2014 10:02:52 AM

ITAB, one of Europe's largest suppliers of shop fitting concepts and lighting systems, has signed an agreement to acquire New Store Europe Denmark AS.

New Store Europe Denmark AS is mainly focused on concept sales to retail chain stores with focus on the non-food market and pharmacies on the Danish market. The company is a sales company with store-keeping and a small production unit.

The company has a strong position in the Danish market and ITAB will through the acquisition strengthen its market position in Denmark. ITAB will through the acquisition offer the Danish customers a combination of local production with global sourcing of retail concepts and lighting.

The acquisition is consistent with the Group's continued focus on the concept and lighting sales and will further strengthen ITAB's offer to customers in the Danish market.

The cash consideration is DKK 7 million and the takeover will be realized with immediate effect. In 2013, the company reported sales of DKK 120 million and the acquisition has a marginal positive impact on earnings per share.

This information was submitted for publication 23th of October 2014 at 09.45 a.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 2,300 employees and a turnover of SEK 3,574 million in 2013.