Loomis acquires KÖTTER Geld- & Wertdienste in Germany

Loomis has, through a wholly owned subsidiary, entered into an agreement to acquire 100 per cent of the limited partnership capital of KÖTTER Geld- und Wertdienste SE & Co. KG (“KGW”), which will be carved out from the KÖTTER group. KGW conducts domestic cash handling services and is based in Essen, Germany. The enterprise value, i.e. purchase price plus acquired net debt, is approximately EUR 14 million, corresponding to approximately SEK 140 million. KGW has approximately 800 employees and the annual revenue in 2017 is expected to be approximately EUR 45 million. The business will