Stuttgart, 02 January 2015. On 31st December 2014 TAKKT Group has entered into a purchasing agreement to sell the membership interests of all companies belonging to the Plant Equipment Group (PEG) to Global Industrial, a Group company of NYSE-listed Systemax Inc. The closing of the transaction is expected to happen until the end of January 2015. With this step TAKKT will focus its activities to become an integrated multi-channel company.
As a storage and material handling specialist, the PEG division, which previously belonged to the TAKKT AMERICA segment, mainly offers products for transport, storage and plant equipment to companies in the US, Canada and Mexico. In the financial year 2013 the PEG generated a turnover of 104 million US dollars. The PEG combines the direct marketing brands C&H, Avenue and Industrial Supplies.
The agreed purchase price (free of financial debt) is 25 million US dollars. "The sale is expected to have a positive effect on profits in a low single-digit million euro range", says TAKKT-CFO Claude Tomaszewski. "With the sale to the strategic competitor Global Industrial, PEG will have better opportunities to grow than it would have been the case under the TAKKT umbrella. With this step TAKKT can focus its resources to become an integrated multi-channel company", comments TAKKT-CEO Felix Zimmermann. As a result of the PEG disposal, TAKKT does not expect a noticeable impact on the other North American TAKKT companies.
About TAKKT AG
TAKKT is the leading B2B direct marketing specialist for business equipment in Europe and North America. The Group is represented with its brands in more than 25 countries. The product range of the TAKKT subsidiaries comprises more than 200,000 products for the areas of plant and warehouse equipment, office furniture, transport packaging, display articles, supplies for retailers, the food service industry and the hotel market.
The TAKKT Group has approximately 2,500 employees and almost three million customers worldwide. TAKKT AG is listed on the SDAX and has been in the Deutsche Boerse Prime Standard since January 1, 2003.
Conference Call
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TAKKT AG is a Germany-based business-to-business (B2B) omnichannel distributor for business equipment. The Company operates in three segments: Industrial & Packaging (I&P), Office Furniture & Displays (OF&D) and FoodService (FS). The I&P segment is focused on the working environment of the factory or warehouse in the manufacturing industry and logistics. The OF&D segment is geared towards service providers. The FS segment is geared towards hotels, restaurants, and catering. The Group operates in approximately 25 countries in Europe and North America. It is active through numerous brands, such as Ratioform, KAISER+KRAFT, Hubert, and Gerdmans, amongst others.