CEWE Stiftung : signs an agreement to acquire 'WhiteWall'
April 30, 2019 at 06:40 am
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DGAP-Ad-hoc: CEWE Stiftung & Co. KGaA / Key word(s): Investment
CEWE signs an agreement to acquire 'WhiteWall'
30-Apr-2019 / 07:36 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
CEWE signs an agreement to acquire "WhiteWall"
Oldenburg, 30 April 2019. CEWE Stiftung & Co. KGaA (SDAX, ISIN: DE 0005403901, "CEWE") signed an agreement today to acquire the photofinishing business and the brand of wall art specialist "WhiteWall".
With Avenso GmbH, CEWE signed an Acquisition and Transfer Agreement covering all WhiteWall Media GmbH company shares. The "LUMAS" business segment, also operated by Avenso GmbH, is not being acquired. The purchase price will be calculated on the basis of an enterprise value of 30 million euros on the date of execution of the transaction. The transaction values the enterprise at around 0.9 times the turnover achieved on 2018 by the part of the enterprise to be taken over. For the current financial year, the CEWE Board of Management expects the takeover - including the purchase price allocation and the transaction costs - to initially still have a negative impact on the EBIT in the amount of around one million euros. Completion of the transaction also depends on approval by the relevant Monopoly and Merger commissions.
WhiteWall conducts successful operations mainly in Germany, other European countries and the USA. CEWE expects the acquisition to have a sustained positive effect on the value of the company as a whole.
Notifying party: Axel Weber, Head of Investor Relations, Planning & Reporting
30-Apr-2019 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de
Language:
English
Company:
CEWE Stiftung & Co. KGaA
Meerweg 30-32
26133 Oldenburg
Germany
Phone:
+49 (0)441 40 4-1
Fax:
+49 (0)441 40 4-42 1
E-mail:
IR@cewe.de
Internet:
www.cewe.de
ISIN:
DE0005403901
WKN:
540390
Indices:
SDAX
Listed:
Regulated Market in Berlin, Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
Cewe Stiftung & Co KGaA is a Germany-based company engaged in the photo processing services. The Company provides photofinishing and online print services. Cewe Stiftung & Co KGaA supplies both the over-the-counter trade and the Internet trade with photos and digital products. The Companyâs activities are divided into three segments. The Photofinishing unit produces and sells photo products. The Proprietary Retail unit trades photo hardware and photo products to end consumers through various brands, such as Fotojoker, Fotolab and Japan Photo, among others. The Online Printing unit operates though online printing portals, such as www.cewe-print.de and others. In addition, the Company sells its own products and photographic hardware, such as cameras. It owns production plants in Poland, Germany and France, among others, as well as distribution branches in Norway, Sweden and Belgium, among others.