Unieuro — M&A Activity 2017

Apr 18, 2017

Informazione Regolamentata n. 1944-11-2017		Data/Ora Ricezione 18 Aprile 2017 15:28:39	MTA - Star
Societa'	:	Unieuro
Identificativo Informazione Regolamentata	:	88122
Nome utilizzatore	:	UNIEURON04 - Italo Valenti
Tipologia	:	IROS 01
Data/Ora Ricezione	:	18 Aprile 2017 15:28:39
Data/Ora Inizio Diffusione presunta	:	18 Aprile 2017 15:43:40
Oggetto	:	Unieuro S.p.A. expands to Central Italy thanks to the acquisition of Andreoli stores
Testo del comunicato

Vedi allegato.

PRESS RELEASE

UNIEURO S.P.A. EXPANDS TO CENTRAL ITALY THANKS TO THE ACQUISITION OF THE ANDREOLI STORES

• 21 medium-to-large-sized direct stores mainly located inside shopping malls in Lazio, Abruzzo and Molise
• Expected incremental revenues of over 100 million euros
• Total consideration of 12.2 million euros

Forlì, 18 April 2017 - Unieuro S.p.A. (MTA: UNIR), the leading Italian consumer electronics retailer by store count, today announced the acquisition of a business unit belonging to Andreoli S.p.A., which had entered into a settlement with creditors in insolvency procedures.

The acquired chain includes 21 direct stores mainly located inside shopping malls and whose size ranges from 1,200 to 1,500 square meters; the chain currently operates under the Euronics brand in Southern Lazio, Abruzzo and Molise, generating retail sales for approximately 94 million euros in fiscal year 2015, with a positive profitability, and employing over 300 headcounts.

Stores will be acquired without stock and will undergo an effective recovery plan including the adoption of the Unieuro banner, the refurbishment of the space, the product restocking and the adoption of the new IT system from the very first weeks; the aim is to achieve revenues (over 100 million euros at run-rate) and profitability targets within 18-24 months.

Giancarlo Nicosanti Monterastelli, CEO of Unieuro, stated: "The acquisition of the Andreoli stores represents the third largest acquisition in the history of Unieuro and it translates into an immediate 12% expansion of our network of direct stores without any significant overlapping."

"Just a few days after our listing on the Stock Exchange, - Mr Nicosanti Monterastelli added - Unieuro has proven once again to be the main omnichannel consolidator of the consumer electronics market in Italy, a company that is capable of investing resources to target external growth as well as to play a leading role in a highly fragmented market".

The acquisition of the Andreoli business unit has taken place following a tender announced by the Latina Court according to Art. 163 bis of the Italian Bankruptcy Law .

As Unieuro will not assume any financial or commercial indebtedness, the total consideration of the operation amounts to 12.2 million Euros, 3.9 million of which have already been paid as a deposit and 8.3 shall be paid as a final balance once the deal is finalized, i.e. 30 days after the award of the assets.

The deal will be financed with the available liquidity as well as with the credit lines made available by the financial institutions.

* * *

For the transmission and storage of the published Regulated Information, Unieuro S.p.A. has chosen to use the "eMarket SDIR" and "eMarket STORAGE" platforms operated by Spafid Connect S.p.A., based in Milan, Foro Buonaparte n. 10.

* * *

About Unieuro S.p.A.

Unieuro - through a nationwide distribution network of 457 stores consisting of 180 directly operated stores and 277 wholesale partner stores and its on-line digital platform unieuro.it – is today the leading Italian consumer electronics retailer by store count. Unieuro is headquartered in Forlì, and has a centralized logistics hub in Piacenza, a staff of over 3,900 employees and revenues that, for the financial year ended on February 29, 2016, reached Euro 1.557 billion.

For more information:

Investor Relations Media Relations

CFO & Investor Relations Officer Arturo Salerni +39 0543 776769 +39 335 1222631 investor.relations@unieuro.com Rita Arcuri

Investor Relations Manager +39 335 5301205 +39 0543 776769 amoretti@unieuro.com

Italo Valenti iCorporate +39 333 2608159 Andrea Moretti unieuro@icorporate.it