OPERATIONS IN BRIEF
- Privad Ystad, Privab Trollhättan and Privab Marknadsbolag are three of a total of seven businesses that work together under the Privab brand. Humble already owns 100% of the shares in two other Privab businesses.
- Humble will, through Privab Marknadsbolag, enter into a cooperation agreement together with the owners of the remaining Privab businesses Konfektyrgrossisten i Norr AB and Björn Olofssons Partihandel Aktiebolag in order to promote and develop the common interests of the Privab companies after completion of the Transactions.
- Privab is a nationwide trading and logistics partner mainly in confectionery, snacks and beverages for consumer goods chains and independent local customers.
- The companies provide a number of concepts such as MyWay, Gottmix and NRG FOOD to hundreds of stores around Sweden.
- The companies' estimated consolidated turnover and EBITDA for 2022 are estimated to amount to approximately SEK 498 million and approximately SEK 28 million respectively.
- In the duediligence process, significant profitability improvements have been identified, via possible synergies and cost savings obtained through integration with the existing Humble's existing companies, Privab Nässjö and Privab Stockholm.
- The Transactions will be financed partly with cash and partly with newly issued shares in Humble. The Transactions will not have a material impact on Humble's financial position and the net debt to EBITDA ratio will decrease following completion of the Transactions.
- The completion of the transactions is subject to the approval of the Swedish Competition Authority and other customary conditions. The shares will be issued at the closing price prior to closing, which is expected to occur no later than 60 days after the approval.
"Through the transactions, we gain three businesses and at the same time close the circle with the other companies in the Privab concept. Strategically, they fit perfectly into our competitive trading and distribution platform with concepts such as MyWay, Gottmix and NRG. We ensure a wider distribution with increased growth for our products going forward, where we will be able to develop the confectionery market for sugar-reduced candy and have the potential to establish a health shelf in loose weight. It is a pleasure to welcome the new entrepreneurs and their teams to Humble, where we look forward to the opportunities that a united Privab brings." says Simon Petrén, CEO Humble Group AB (publ).
ADVISORS
Rämsell Advokatbyrå AB is acting as legal advisor to Humble in connection with the Transactions.
For further information, please contact:
Simon Petrén, CEO, Humble Group AB
E-mail: simon.petren@humblegroup.se
Phone: +468 61 32 888
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, please 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.
