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Forlì, 31th october 2017 Unieuro S.p.A. (MTA: UNIR), the leading omnichannel distributor of consumer electronics and appliances by store count in Italy, yesterday completed the closing for the acquisition of a first set of stores belonging to Gruppo Cerioni S.p.A., as a part of the deal announced on 5 October 2017 relative to 19 directly operated stores, currently operating under the Euronics banner.
Established in the province of Ancona in 1980 and a member of the Euronics buying group since 1996, the Cerioni Group currently owns 20 stores and is the leading electronics distribution chain in the Marche (13 stores), with significant operations in Emilia Romagna (7 stores).
The acquired stores, of sizes between 500 sqm and 4,000 sqm for a total sales area of more than 25,000 sqm, will allow Unieuro to spread its directly operated network in central Italy, generating limited and perfectly manageable overlaps.
The transaction is subject to certain conditions precedent which are typical of this kind of deals. The total consideration for the transaction, which took place without assumption of bank debt and/or debt with suppliers, amounted to € 8 million, of which € 1.6 million to be paid at the closing and € 6.4 million in semi-annual instalments over the next three years. The deal will be financed by using the available liquidity and credit facilities made available by financial institutions.
Marco Polo Advisor acted as financial advisor of Gruppo Cerioni in the deal, with a team composed by Filippo Rozzanigo and Endri Dobi.
Established in the province of Ancona in 1980 and a member of the Euronics buying group since 1996, the Cerioni Group currently owns 20 stores and is the leading electronics distribution chain in the Marche (13 stores), with significant operations in Emilia Romagna (7 stores).
The acquired stores, of sizes between 500 sqm and 4,000 sqm for a total sales area of more than 25,000 sqm, will allow Unieuro to spread its directly operated network in central Italy, generating limited and perfectly manageable overlaps.
The transaction is subject to certain conditions precedent which are typical of this kind of deals. The total consideration for the transaction, which took place without assumption of bank debt and/or debt with suppliers, amounted to € 8 million, of which € 1.6 million to be paid at the closing and € 6.4 million in semi-annual instalments over the next three years. The deal will be financed by using the available liquidity and credit facilities made available by financial institutions.
Marco Polo Advisor acted as financial advisor of Gruppo Cerioni in the deal, with a team composed by Filippo Rozzanigo and Endri Dobi.