December 8, 2016 / 7:43 AM / 8 months ago

BRIEF-Björn Borg acquires benelux distributor Baseline

2 Min Read

Dec 8 (Reuters) - Bjorn Borg

* Says acquires benelux distributor Baseline

* Says pays EUR 1.25 million for all shares and shareholders' loans in the Baseline Group over a three-year period

* Says as part of the transaction, Björn Borg will also take over working capital financing from local banks of up to EUR 2.8 million, and the Group's interest bearing debt will increase with the corresponding amount

* Says consolidating Baseline Group into the Björn Borg Group is estimated to increase annual net sales by approximately SEK 100 million without impact on the EBIT excluding short-term negative effects for 2017

* Says according to the share purchase agreement completion of the acquisition will take place on 2 January 2017

* Baseline Group has a total of 90 employees and a turnover in 2015 for the Björn Borg brand of approximately EUR 23.3 million with an EBIT of about EUR -0.7 million For the original story click here: bit.ly/2hmRok9 Further company coverage: (Stockholm Newsroom)

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