EasyFill AB (publ) signs letter of intent regarding divestment of Ebeco
EasyFill AB (publ) signs a Letter of Intent (LOI) with the Slovak management of Ebeco regarding the sale of Ebeco s.r.o., Ebeco Slovakia s.r.o. and Ebeco AS.
EasyFill has previously communicated (interim report January-June, 2024) that it is in dialogue with lenders and financiers to enable a strategic restructuring of the business, with the goal of better focusing on the business area clever store shelves. As part of this work, EasyFill intends to divest the wholly-owned subsidiaries Ebeco s.r.o. and Ebeco AS, in addition to the 30 percent holding of Ebeco Slovakia s.r.o.
Ebeco's business consists mainly of manufacturing niche trailers, but also a large part of EasyFill's production of shelving systems is currently done at Ebeco's factory in Slovakia. EasyFill and Ebeco will continue to collaborate on the production of EasyFill's shelving system, which was a prerequisite for the transaction.
The reason for the transaction is to streamline EasyFill's operations towards shop interior. Ebeco will also require future investments to renew its machinery, and through the sale, EasyFill reduces its financial risks. It also means reduced costs and fewer employees for the Group, as well as reduced debt.
The transaction will reduce the Group's revenue but will have a marginal impact on earnings for the year. The transaction has no major financial effects on cash flow but affects the parent company's balance sheet through reduced assets and liabilities. The transaction takes place through the transfer of shares between the buyer and seller.
"This is an important step in our strategy to focus on our core business in smart shelving systems. By divesting Ebeco, we can allocate our resources more efficiently and drive growth in areas where we see potential," says Tobias Sjölander, CEO of EasyFill.
The parties have expressed the common intention to enter into a binding agreement on transfer as soon as possible on the terms set out in the letter of intent.
For more information, please contact
Tobias Sjölander
Chief Executive Officer+46 70 660 54 23
[email protected]
www.easyfill.se
www.easyfillcorporate.com
About the EasyFill Group
EasyFill AB is a Swedish listed company that uses Swedish patented innovations to reduce food waste in grocery stores around the world by up to 40%. EasyFill is an innovation-driven company with a main focus on developing products that simplify the handling of goods in stores and restaurants. All products the company manufactures and sells are patented in the major markets in the world. Sales take place through the company's own companies, through retailers and together with manufacturers of soft drink refrigerators and refrigerator furniture manufacturers who in turn resell their products with EasyFill's products installed in around the world.
EasyFill has been listed on Spotlight Stock Market, Stockholm since May 2007.
Publication
This information is information that EasyFill AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on September 13, 2024.