* All amounts have been converted into Swedish Krona (SEK) from Pound Sterling (GBP) (FX GBP to SEK 12.55).
THE TRANSACTION IN BRIEF
- Amber House is based in Lewes, UK. The company markets, sells and distributes its own brands as well as licensed products mainly in the beauty and health sector to leading companies and chains such as Boots and Primark.
- The company's sales and adjusted EBITDA for 2022 are estimated to amount to approximately SEK 117.0 million and approximately SEK 12.0 million respectively.
- Humble has paid the purchase price for the shares in the Company (the "Purchase Price"). The Purchase Price has been paid partly in cash and partly by the board of directors of Humble resolving to issue and allot 1,158,385 shares in Humble to the sellers of Amber House.
- All other conditions for the completion of the Transaction have been fulfilled and Humble has thereby acquired the shares in the Company.
- In connection with the Transaction, Humble's share capital will increase by SEK 254,844.70 to SEK 64,869,033.02 and the number of shares in Humble will increase from 293,700,856 to 294,859,241 shares. The cash portion of the Purchase Price has been financed with Humble's existing cash.
"Amber House has built up a loyal customer and supplier network over a long period of time and thereby established itself as a niche and significant player in the UK market. Humble's subsidiaries have sales to the Company already and the acquisition entails several given synergies and opportunities for deeper cooperation in the future. By acquiring Amber House, we add additional sales channels towards major retail chains in a key market and gain a stronger position in the Personal Care segment. We very much look forward to continuing to work closely with the founders and the Company's employees in a new and rewarding context." says Simon Petrén, CEO Humble Group AB (publ).
ADVISORS
Rämsell Advokatbyrå AB is acting as Swedish legal adviser and Shoosmiths LLP is acting as local legal adviser to Humble in connection with the Transaction. FRP Advisory Group plc is acting as financial adviser to Humble in connection with the Transaction.
For further information, please contact:
Simon Petrén, CEO, Humble Group AB
Phone: +46 70 999 94 55
E-mail: simon.petren@humblegroup.se
The information in this press release was published through the agency of the contact person set out above, at the time stated by Humble's news distributor Cision at the publication of this press release.
ABOUT HUMBLE
Humble Group is a Swedish foodtech and FMCG group delivering the next generation of consumer products that are good for people and the planet. Humble focuses on the foodtech, eco, sustainability and vegan segments. The companies are growing through organic growth, acquisitions and leveraging synergies in the different business units: brands, distribution, manufacturing and ingredients. Humble's technologies, refined through scientific research and extensive market experience, facilitate new formulations and recipes that improve taste and texture for the next generation of sugar-reduced, sustainable and vegan products. For more information, visit www.humblegroup.se
Humble is listed on Nasdaq Stockholm, First North Growth Market, under the ticker HUMBLE. FNCA Sweden AB is Humble's certified adviser. Tel: 08-528 00 399, e-mail: info@fnca.se
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect Humble's intentions, beliefs or expectations regarding Humble's future results of operations, financial condition, liquidity, performance, prospects, anticipated growth, strategies and opportunities and the markets in which Humble operates. Forward-looking statements are statements that are not historical facts and can be identified by the use of words such as "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "anticipates", "should", "could" and, in each case, the negatives thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, many of which are based on additional assumptions. Although Humble believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will materialize or that they are accurate. Because these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, actual results or outcomes could differ materially from those in the forward-looking statements for a variety of reasons. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this press release by the forward-looking statements. Humble does not guarantee that the assumptions underlying the forward-looking statements contained in this press release are accurate and any reader of the press release should not place undue reliance on the forward-looking statements contained in this press release. The information, opinions and forward-looking statements expressed or implied herein are made only as of the date of this press release and are subject to change. Neither Humble nor anyone else undertake to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this press release, except as required by law or Nasdaq First North Growth Market's Rule Book for Issuers.
