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FY 2022 impact for THG of c. £20.0m revenues and c. £6.5m adjusted EBITDA, post c. £3.0m of cost synergies THG PLC ( THG or the Group ), the proprietary technology platform specialising in taking brands direct to consumers ( D2C ), has conditionally agreed to acquire Brighter Foods Limited ( Brighter ), a specialist developer and manufacturer of snack bars, from Real Good Food plc for £43.0m, payable in cash. The acquisition of Brighter enables THG to bring in-house decades of product know-how and innovative resource in the formulation and production of high quality, healthier snack bars. Brighter develops and manufactures for globally pre-eminent confectionery, wellness and breakfast food brands and has already reformulated the majority of THG Nutrition s bar range, underpinning the c. £3.0m cost synergy. The acquisition enables THG Nutrition to reduce lead-times for new product launches significantly, while ensur
Today in European Tech: Acast en route to a Stockholm IPO, big funding rounds for Bux, Ornikar, MatHem, and GO Sharing, and more
Deals
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Swedish-founded podcasting company Acast is reportedly closing in on a Stockholm IPO that would value it at around €500 million.
- An international investment fund based in East Asia has
acquired Israel-based Investing.com for $500 million, sources told Globes.
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UK-based re-commerce group musicMagpie has been admitted to the AIM market of the London Stock Exchange this morning, giving it a £208 million market cap.
- Kinnevik is clearly going all-in on
the red-hot online grocery delivery market. Just two weeks ago, they dropped at cool €220 million on Norway’s Kolonial (now Oda), and now how jumped into MatHem’s shopping basket (again) to the tune of €14.8 million in the grocer’s €108.7 million funding round.
Disposal of Brighter Foods Limited, Notice of General Meeting and Trading Update Real Good Food plc, (AIM: RGD) the diversified food business, announces that it and the Managers have conditionally agreed to sell the entire issued share capital of Brighter Foods Limited for an aggregate cash consideration of £43.0 million on a cash free/debt free basis to THG plc ( THG ). RGF, through its subsidiary NBF, has an interest in 84.334 per cent. of the issued share capital of Brighter Foods Limited with the balance owned by Brighter s Managers. The Group will therefore receive cash proceeds of £35.64 million. The consideration due to the Sellers is subject to customary adjustments for (amongst other things) the actual working capital at Completion against an agreed target level. The net assets being disposed of amount to £17.3 million, resulting in a profit on disposal of approximately £20.4 million.