Hakon Invest is purchasing the remaining 45% of the shares in online retailer
inkClub for a cash consideration of SEK 199 M.
Hakon Invest has exercised its option to acquire additional shares in inkClub,
which sells a range of consumables over the internet. The core business is ink
cartridges and other printer accessories. inkClub's offering also includes light
bulbs, batteries, vacuum cleaner bags and beauty products.
Stein Petter Ski, SVP Investments & Portfolio Companies, Hakon Invest, comments:
"We have a very positive view of inkClub, which has a strong position in the
Nordic market, a well-known brand, and good future prospects. Making inkClub a
wholly owned subsidiary will increase our exposure to online retailing which is
a growing sales channel. We can also increase the pace of inkClub's investments,
such as the introduction of a new IT platform and CRM system, in order to
continue to develop the business towards new growth areas and markets."
Hakon Invest is acquiring the remaining 45% of the shares in inkClub from
Lennart Nyberg for a cash consideration of SEK 199 M. inkClub will then be owned
to 100% by Hakon Invest. The transfer will take place on December 29 and will be
preceded by a dividend to shareholders, where Hakon Invest, with its present
55% holding, will receive SEK 32 M. Of the SEK 199 M purchase price, SEK 174 M
will be paid in conjunction with the transfer of shares in December and SEK 25 M
will be paid after three years, provided certain competition terms are met.
Acquisition analysis will be presented in conjunction with Hakon Invest's year-
end report.
Hakon Invest became a part owner of inkClub in 2007. Since then, inkClub has had
an annual sales growth of 8.4%. As of September 30, inkClub's sales amounted to
SEK 502 M with an operating profit of SEK 32 M calculated on a rolling 12-month
basis.
For further information, please contact:
SVP Investments & Portfolio Companies
Stein Petter Ski
tel +46 8 55 33 99 44
Head of IR
Pernilla Grennfelt
tel +46 8 55 33 99 55
This information is such that Hakon Invest must disclose pursuant to the Swedish
Securities Market Act and/or the Swedish Financial Instruments Trading Act. The
information was submitted for publication at 08.00 CET on November 21, 2011.
Hakon Invest, which is listed on Nasdaq OMX Stockholm, conducts active and long-
term investment operations in retail-oriented companies in the Nordic and Baltic
regions. Hakon Invest owns 40% of ICA AB, one of northern Europe's leading food
retail companies. Hakon Invest also has holdings in Forma Publishing Group,
Kjell & Company, Hemma, Cervera, inkClub and Hemtex. Further information about
Hakon Invest is available atwww.hakoninvest.se
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Hakon Invest AB via Thomson Reuters ONE