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ADAIRS LIMITED — M&A Activity 2019
Dec 12, 2019
64302_rns_2019-12-12_ef58cabf-1757-489a-b1ca-87d14ca66eec.pdf
M&A Activity
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Release to the Australian Securities Exchange
Adairs Limited
Acquisition of Mocka Completed
13 December 2019
Adairs Limited (ASX: ADH) is pleased to confirm that it has today completed its acquisition of Mocka Limited.
Background:
On 4 December 2019 Adairs announced that it had entered into a binding agreement to acquire all of the shares of Mocka Limited for a notional initial enterprise value of c.NZ$80m (A$75.5m). The effective date of the acquisition is 1 December, 2019, meaning that Adairs will account for a 30 week contribution of Mocka in its FY20 results.
The transaction terms and structure are as outlined in Adairs’ announcement on 4 December 2019.
For further information please contact:
Investors
Jamie Adamson, Head of Investor Relations P: +61-3 8888 4500 M: +61 (0) 437 449 935 E: [email protected]
About Adairs
Adairs Limited (ASX: ADH) is a retailer of home furnishings in Australia with a national footprint of stores across a number of formats and a growing online format. The company presents customers with a differentiated proposition, which combines on-trend fashion products, quality staples, strong value and superior in-store customer service. For further information visit www.adairs.com.au
About Mocka
Mocka is a vertically integrated pure-play online home and living products designer and retailer operating in Australia and New Zealand. Mocka sells its own exclusive, well designed, functional and stylish products in the Home Furniture & Décor, Kids and Baby categories. Delivering great product and compelling everyday value-for-money is core to the Mocka customer proposition. For further information visit www.mocka.com.au
Adairs Limited
www.adairs.com.au 2 International Court, Scoresby, Victoria, Australia, 3179