ITAB La Fortezza s.p.a. has entered into a Sale and Purchase
Agreement with Cefla soc. coop. to acquire Cefla's retail solutions
business unit.
JÖNKÖPING, Sweden, Oct. 8, 2020 /PRNewswire/ -- ITAB Shop Concept
AB's (publ) Italian subsidiary ITAB La Fortezza s.p.a.
("ITAB") has on October 8th,
2020 entered into an agreement with Cefla soc. coop.
("Cefla") to acquire 81% of Cefla's retail solutions
business unit. The business unit will be carved-out of Cefla's
existing structure and transferred to a newly established Italian
limited liability company. ITAB has the right to acquire Cefla's
minority stake held in said company after 3 years from the
transaction's completion date.
Cefla is an Italian corporation headquartered in Imola and
comprises multiple business units. Cefla's retail solutions
business unit primarily offers interior design and checkout
solutions to its customers, who are predominantly located in
southern Europe and within the
grocery sector. Cefla has taken a strategic decision to exit the
retail solutions business and focus on its core business.
Through the acquisition and collaboration with Cefla, ITAB
strengthens its leading position in southern Europe and creates opportunities to offer
ITAB's solutions to a wider customer base. The positive EBIDTA
effect in 2021 on ITAB is estimated to at least 30 MSEK and the
transaction will create opportunities for further synergy effects
the coming years.
"Cefla has a strong position in southern Europe and we see their expertise and long
tradition in the Grocery sector as strategically important for ITAB
as it strengthen our market presence in southern Europe. We welcome Cefla's employees and the
collaboration with them in the coming years. Together, we will
develop the offer to Cefla's existing customers by being able to
offer ITAB's solutions in checkouts, selfcheckouts, gates,
lighting, store fittings and interactive digital products to create
easy, efficient and inspiring consumer experiences." Andréas
Elgaard, President and CEO of ITAB.
"We look forward to working with ITAB, which is Europe's leading supplier of complete concepts
to retail, as we are convinced that this means an improvement for
our customers and employees. It is gratifying to create this
collaboration and to be able to offer a better portfolio of
solutions to our customers and long-term perspective for our
employees." Gianmaria Balducci,
Chairman of the Board of Cefla.
"It is inspiring to welcome new employees and customers to
the ITAB family and we are proud that Cefla has chosen ITAB as a
partner and expressed confidence in our ability to offer added
value to Cefla's customers. With this collaboration, we strengthen
our position as Europe's leading
partner for customers in the Grocery sector." Andréas Elgaard,
President and CEO of ITAB.
The acquisition has been approved by both companies' board of
directors as well as from Cefla's shareholders meeting. The
acquisition is subject to customary terms and conditions and
transaction is expected to be completed by the end of 2020.
CONTACT:
For further information, please contact:
ITAB Shop Concept AB
Andréas Elgaard, President & CEO
Telephone: +46 36 31 73 00
Mobile: +46 73 232 16 35
Box 9054, SE-550 09 JÖNKÖPING
Telephone: +46 36 31 73 00
itab.com, itabgroup.com
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