XXL Horeca to be acquired by Takkt Group
03 MAY 2019
The TAKKT GmbH [TTK:ETR] has agreed to acquire XXL Horeca, the Dutch e-commerce business specializing in food service supplies. The company generated sales of approximately EUR 14m and recorded EBITDA margin in the double-digit percentage range.
The purchase price amounts to EUR 19.5m.
Press release:
The TAKKT Group company newport.TAKKT GmbH has entered into a purchase agreement for the acquisition of 100 percent of the shares of XXL Horeca. The signing of the contract and closing of the transaction took place today. In the 2018 fiscal year, the company generated sales of approximately EUR 14 million and recorded EBITDA margin in the double-digit percentage range. XXL Horeca wants to be part of the Newport group within the TAKKT EUROPE segment.
XXL Horeca is an e-commerce business specialized in food service supplies. Business customers, such as hotels, restaurants, cafeterias and catering companies. Established in 2013, the company is based in the Dutch city of Wormerveer, has over 20 employees and sells catering supplies - especially kitchen utensils and equipment as well as utensils. Their product range includes around 21,000 items, which are exclusively sold online. The majority of products are delivered directly by the supplier to the customer via drop shipment. XXL Horeca relies heavily on private label brands, has a high level of product expertise and offers attractive value for money. TAKKT Management Board member Heiko Hegwein, responsible for the Newport group, said: "XXL Horeca wants to benefit from the Newport network,
The catering supplier is active as a one-stop shop in the Netherlands, Belgium and France, and therefore has been selling in Germany and Austria since February 2019. Founder Julian van Vliet and his management team want to remain in charge of operations. "We are very happy that from now on, we will continue to promote the strong growth of recent years together with TAKKT," said van Vliet.
The purchase price amounts to EUR 19.5 million. TAKKT is the acquisition using free credit lines. In addition, a further two-level potential and variable purchase price share (earn out) was agreed. The amount of the payout depends on whether or not it is payable in 2020 and 2022.