Tellusgruppen intends to acquire the catering company Matomsorg

Published: December 19, 2023

  

IR - Regulatory

Tellusgruppen has today signed a letter of intent to acquire all shares in the catering company Matomsorg through its subsidiary Tellusfood. Matomsorg, which prepares and distributes food to preschools and schools in the Stockholm area, has sales of approximately 10 MSEK and EBIT of approximately 1 MSEK. Based solely on cost savings within the Tellus Group’s own food distribution operations and the target company’s own operating margin, the acquisition is expected to increase the Tellus Group’s profitability by up to 20 percent starting in the second quarter of 2024.

Tellusgruppen With this letter of intent, the Company is submitting an offer for all shares in Matomsorg in the amount of SEK 5,200,000 (on a debt- and cash-free basis), which amount shall also constitute the preliminary purchase price for the shares. Payment will be made in the form of shares in the buyer’s parent company Tellusgruppen, valued at SEK 2,600,000 in newly issued shares, a cash payment of SEK 1,040,000 on the closing date, and a promissory note for SEK 1,560,000 plus interest, corresponding to the 3-month Stibor, with the principal amount and accrued interest due no later than 12 months after the closing date.

The subsidiary Tellusfood operates with the aim of preparing and delivering food to the Group’s schools and preschools. The business also aims to offer meals to external customers in the school and preschool sectors. With the acquisition of Matomsorg, the Tellus Group’s six food preparation kitchens and its restaurant will be integrated with an additional food preparation facility serving approximately 30 external customers. The new subsidiary is expected to generate annual revenue of approximately 25 MSEK.

For more information

Bijan Fahimi, CEO of Tellusgruppen AB
bijan.fahimi@tellusgruppen.se
+46 707 167 453

MAR

This information is information that Tellusgruppen AB (publ) is required to disclose under the EU Market Abuse Regulation. The information was submitted for publication on December 19, 2023, at 9:00 a.m. CEST.

Certified Adviser

The Company’s Certified Adviser is Mangold Fondkommission AB, which can be reached by phone at 08-503 015 50 and by email at ca@mangold.se.

About Tellusgruppen AB (publ)

Tellusgruppen is a long-term owner of well-managed companies in the education and child care sectors. The Group currently operates 28 preschools and seven elementary schools, and also provides child care and educational services.

Tellusgruppen was established in 2012 as the parent company of Tellusbarn (Tellusbarn was founded in 2007) and as a platform for future expansion in the education and child care sectors.

Tellusgruppen's Our business concept is to establish, operate, and develop profitable and growing subsidiaries that offer high-quality, innovative, and in-demand services in their respective fields.