Bygghemma Group acquires Outl1.se
Bygghemma Group First AB ("Bygghemma Group") acquires Outl1.se, a leading online store in Sweden for home, household and leisure products. Through the acquisition, Bygghemma Group further strengthens its position as the largest online player within these categories in the Nordic region. The acquisition price amounts to SEK 55 million, with a potential additional performance-related purchase price.
Martin Edblad, acting President and CEO of Bygghemma Group, commented:
“We are very happy and proud to be able to strengthen our position in the fast-growing market for home and leisure products in the Nordic region through the acquisition of Outl1.se. Through the acquisition of Outl1.se, we have associated us with a leading-range specialist that has developed a very strong position in its niche in recent years."
Outl1.se has shown an average annual growth of 67 percent over the past five years and had sales of just over SEK 100 million in 2018 and an operating profit (EBIT) of about SEK 9 million. The company will be consolidated within Bygghemma Group's DIY segment. Bygghemma has acquired 51 percent of the shares in the company, with an option to acquire the remaining 49 percent within 3-4 years.
Joacim Boivie, CEO and founder of Outl1.se, commented:
“We are very happy to have joined Bygghemma Group. Through this deal, we see great opportunities to accelerate our development and growth, by further expanding our leading range as well as through geographic expansion, leveraging Bygghemma Group's Nordic platform.”
Bygghemma Group will continue to operate Outl1.se as an independent unit. Joacim Boivie will remain as CEO and the business will be run and expanded from Stockholm.
For more information, please contact:
Martin Edblad, acting President and CEO of Bygghemma Group
Telephone: +46 (0)73 424 68 51. E-mail: firstname.lastname@example.org
Johan Hähnel, Head of Investor Relations
Tel: +46 (0)70 605 63 34. E-mail: email@example.com
This information was submitted for publication, through the agency of the contact persons set out above, at 10:00 a.m. CEST on 26 July 2019.
About Bygghemma Group
Bygghemma Group is the leading online supplier of home improvement products in the Nordic region. We offer our customers a broad product range at attractive prices, with convenient home delivery. We conduct operations in two segments: DIY and Home Furnishing. DIY comprises sales of products from well-known brands for homes and gardens, and Home Furnishing comprises sales of furniture and home decor, mainly under proprietary brands. Bygghemma Group includes a wide range of webstores, such as www.bygghemma.se, www.trademax.se, www.chilli.se and www.furniturebox.se. Bygghemma Group had sales of approximately SEK 5 billion in 2018, has its head office in Malmö and is listed on Nasdaq Stockholm Mid Cap.