"Through the acquisition of True Gum we get a high-quality company with a clear sustainability profile that fits well into the group and further strengthens our position as the FMCG company of the future. With a team of innovative entrepreneurs, they have managed to identify an untapped market space for all-natural, plastic-free chewing gum and quickly grown to become a market leader in their niche. It is with great pleasure that the management and the board welcome the entrepreneurs Jacob, Morten, Peter and Zabrina with their respective teams to Humble Group" says Simon Petrén, CEO Humble Group AB.
Humble has paid the fixed consideration for the shares in the Company by paying approximately SEK 155.7 million in cash to the sellers and by the board of directors of Humble having resolved to issue and allot 2,605,591 shares in Humble to the sellers. The newly issued shares were issued at a price of SEK 31.31 and correspond to a value of approximately SEK 83.6 million. The sellers of the Company have paid in full for the subscribed and allotted shares in the form of shares in the Company.
All other conditions for the completion of the Transactions have been fulfilled and Humble has thereby acquired the shares in the Company.
The company's projected sales and EBITA for 2022 amount to approximately SEK 133.1 million and approximately SEK 22.1 million respectively, corresponding to a 2018-2022 estimated compound annual growth rate (CAGR) of 205%.
In connection with the Transactions, Humble's share capital will increase by approximately SEK 573,230 to approximately SEK 54,908,317 and the number of shares in Humble will increase from 246,977,667 to 249,583,258 shares. The cash portion of the purchase price has been financed with Humble's existing cash.
Rämsell Advokatbyrå AB is acting as Swedish legal advisor and Kromann Reumert is acting as local legal advisor to Humble in connection with the transaction. Moalem Weitemeyer Advokatpartnerskab is acting as legal advisor to the sellers 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.com
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.com
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.
