Inwido has signed an agreement to acquire the e-commerce group Bedst & Billigst Mon, Oct 09, 2017 10:30 CET
This information is such that Inwido AB (publ) is obliged to publish in accordance with the Swedish Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication on Monday, October 9, 2017, at 10:30 a.m.
I nwido, Europe’s largest supplier of windows and one of the leading suppliers of doors, has signed an agreement to acquire one of the strong e-commerce players in the Nordic market – Bedst & Billigst group. The group was founded in 2002, and today it consists of 4 brands, 100 employees and a turnover of DKK 95 million in 2016. Inwido acquires 100 percent of the shares. Closing is expected to occur early 2018.
The company Bedst & Billigst was one of the first movers in the Business-to-Consumer e-commerce market in Denmark. Today the group owns and drives web-shops in Denmark, Norway and Sweden. The group has production facilities in Romania and Denmark.
“We’re very pleased that the acquisition has now fallen into place. We already have a strong position in the e-commerce market for windows and doors targeting the private consumers, which makes this acquisition a perfect match and supplement to our other e-commerce brands.” says Håkan Jeppsson, President and CEO at Inwido. “As within many other product categories we see that an increasing number of consumer groups prefer to buy their windows and doors on-line, whenever and wherever they want. With this acquisition we can meet their needs even better.”
With this acquisition, Inwido continues to expand its position on the e-commerce market of windows and doors in Europe. Bedst & Billigst group will become part of the Business Area Emerging Business Europe within Inwido which holds the Business Unit e-Commerce. Bedst & Billigst groups brings along Bedst & Billigst and Danske Vinduer in Denmark, Bonusfönster in Sweden and Best & Billigst in Norway.
The acquisition will be a minor part of the Inwido Group and will have a positive effect on Inwido's earnings per share 2018. The purchase price is in line with Inwido's regular multiples and is financed by a new bank loan. The acquisition is subject to that required investments are made in the business in order to secure the planned growth.