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Jays Group acquires Krusell

Audio and accessories brand Jays Group is buying Krusell for an initial purchase price of US$51.4m with an earnout that will pay half of EBITDA based on performance in 2018 and 2019. Jays Group will, after the integration of the Krusell group of companies, have annual sales in excess of US$170m. The initial purchase price consists of US$13.6m cash, US$4.5m as a promissory note and US$33.3m as a share issue to the sellers. The share price will be decided at the end of May and the sellers will be subject to a three-year lock-up period. Read full story

by Stuart Wilson, Thursday 3 May 2018

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