Selecta Group B.V.: SELECTA COMPLETES ACQUISITION OF PELICAN ROUGE
SELECTA COMPLETES ACQUISITION OF PELICAN ROUGE
Cham, Switzerland, September 8, 2017 - Selecta AG ("Selecta"), a leading European vending and coffee services provider, today announced that it has completed the acquisition of Pelican Rouge B.V. ("Pelican Rouge"), a long established coffee services and vending company. This transaction was subject to customary approvals, all of which have now been granted. Through the acquisition of Pelican Rouge, Selecta creates a leading vending operator and coffee services provider for the workplace, on-the-go as well as for hotels, restaurants and cafes across Europe, with presence in 15 countries. The combined company will have pro forma revenues of over EUR 1.3 billion and pro forma EBITDA including synergies in excess of EUR 200 million for the twelve months ended 30 June 2017.
David Flochel, CEO of Selecta, said: "We are very delighted to complete the acquisition of Pelican Rouge. This marks the start of an exciting new chapter for our business and significant joint opportunities as a leading European operator."
Creating a larger and stronger business will put Selecta in a better position to serve its clients with a more diversified product offering and to pro-actively respond to changing industry dynamics. The company will benefit from shared best practices and know-how across a broader range of segments. This will enable further operational improvements and investments in innovation, as well as an accelerated roll-out of new technologies, resulting in an enhanced consumer experience.
By increasing the density of its operations and implementing more cost-effective sourcing and procurement, Selecta expects to deliver improved profitability going forward and an immediately deleveraged credit-profile on a pro-forma basis. It is further expected that the combined business will benefit from revenue growth potential driven by comprehensive product portfolios in all countries, as well as stronger service capabilities and sales force.
The integration of Pelican Rouge will take into account the specific market conditions in all regions involved to ensure the best possible offering for the future.
The acquisition of Pelican Rouge was financed through a EUR 180 million equity contribution by KKR and drawings under a new term loan (the "Term Loan") borrowed by Selecta Group B.V. The Term Loan matures on June 15, 2020, does not contain a financial maintenance covenant and has substantially similar incurrence covenants as the existing senior secured notes issued by Selecta Group B.V.
Media Contact Selecta Group Kerstin Müller Corporate Communication Manager Mobile: +41 79 331 48 30 Email: firstname.lastname@example.org
About Selecta Group Headquartered in Switzerland since 1957, Selecta is a leading vending and coffee services company operating in 15 European countries. An annual turnover of 1.3 billionEUR is a testament to the passion and dedication of more than 8850 highly skilled Selecta employees, providing great quality coffee brands and convenient food and beverages concepts for the workplace, on-the-go as well as hotels, restaurants and cafes ("HoReCa"). For further information, please visit www.selecta.com.
08.09.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de