EasyFill AB (publ) signs license agreement with HL Display AB
EasyFill has today signed a license agreement with HL Display AB regarding licensing of EasyFill TurnLoader and RotoShelf for refrigerated multideck cabinets and cold rooms.
The purpose of the agreement gives HL Display exclusive distribution rights in Europe for EasyFill's patented solutions RotoShelf and TurnLoader for applications in refrigerated multidecks and cold rooms.
HL Display will take care of all sales of these products to the end customers and to EasyFill's existing OEM partners. This is a deepening of the existing collaboration between the companies that provides synergies to HL Display and allows EasyFill to focus on TurnLoader Ambient and sales of products to manufacturers of commercial refrigerators.
Discussions have been going on for a long time and a representative of HL Display has today signed a five year license agreement for Europe with an option to extend for an additional 5 years and an agreement has been reached on a start-up fee of 450 000 euros, and additionally 400,000 euros in license fee spread over five years, and royalties per sold unit.
The management of EasyFill sees HL Display as an excellent long-term partner with the right network, broad market presence and a strong well-established name and in a strong position to take EasyFill's products to the next level. The growth being discussed will triple the volumes over a five-year period compared to the levels in 2021 and this will require close cooperation between the parties initially.
Facts:
HL Display AB, which is a wholly owned subsidiary of Ratos AB, offers solutions for store communication and product display. The Group operates both through its own companies and through distributors and is active in a total of approximately 70 markets. HL Display has sales of approximately SEK 1,700 million.
Comment from Björn Borgman, CEO, HL Display AB
RotoShelf and TurnLoader further strengthen HL's offering when it comes to efficient store operations and make it possible to build on our ambition to help our customers create attractive stores. Through this licensing agreement with EasyFill, together with HL's leading sales and distribution network in Europe, we ensure continued expansion for RotoShelf and TurnLoader.
Comment from Jens Liden, Acting CEO of EasyFill AB
I am very happy and pleased to be able to present that the contract negotiations with HL Display have been completed today. We have discussed details for a long time and now we have an agreement that I hope and believe will benefit both parties.
I am convinced that HL Display is the right partner to take TurnLoader and RotoShelf up to the level that the products deserve. They have the organization and not least the necessary contacts required to firmly establish EasyFill's products in the market.
For EasyFill, this agreement shows the way forward and our products can reach the market much faster.
For more information contact
Jens Lidén
Tf VD EasyFill AB (publ)
[email protected]
This disclosure contains information that EasyFill is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 19-05-2022 08:00 CET.