Anora acquires Globus Wine, the leading wine company in Denmark, to further strengthen its position as the Nordic leader in wines and spirits

Anora Group Plc Inside information June 22, 2022 at 10:30 a.m. ET

Anora acquires Globus Wine, the wine leader in Denmarkto further strengthen its position as the leading Nordic wine and spirits group

Anora has signed an agreement to acquire 100% of Globus Wine A/Sthe first wine company in Denmark. Globus Wine has successfully built a wine business with its own best-selling wine brands, and it has the largest capacity in North Europe to offer filling services to international wineries and wine importers. Following on from last fall’s merger, the acquisition of Globus Wine strengthens Anora’s position as the leading wine supplier in the Nordic countries. With this acquisition, Anora will become the market leader in Danish wine in addition to its leading position in the other three Nordic countries. Additionally, the acquisition will support the expansion of Anora’s partner and its own Nordic wine business.

In 2021, Globus Wine’s turnover was DKK 549.6 million and adjusted EBITDA was DKK 66.2 million. The purchase price is DKK 596.4 million (80 million euros) which is equivalent to an enterprise value of DKK 669.6 million (90 million euros).

“I am very pleased to be able to announce today the first acquisition of Anora. Globus Wine is a market leader in Denmark with a constant growth superior to that of the market during the last years. Thanks to this acquisition, Denmark will be one of our markets where we hold leading positions in both wines and spirits. Like Anora, Globus Wine believes in a sustainable business, using wind power and significantly reducing the CO₂ footprint of wine through logistics solutions and climate-friendly packaging. I warmly welcome Globus Wine to Anora,” says CEO of Anora Pekka Tennila.

“This acquisition not only makes Anora the market leader in the highly competitive Danish wine market, but also strengthens our wine business. Globus Wine’s skilled and professional teams have built a successful own wine brand business with their strong branding capabilities and I look forward to our future collaboration, through which we can continue to grow and grow. our own wine brands in all our markets,” says Janne HalttunenPlease, Wines.

“We are delighted to be part of the Anora family. Anora is a perfect complement for Globus Wine, and we are very much looking forward to further developing the Nordic market with Anora. With Anora’s strong position and very high skills in the field I am confident that under the new ownership combined with a strong and passionate organization at Globus Wine, we will be able to continue Globus Wine’s journey and expand our position with our own brands, as well as the filling solutions market,” says CEO of Globus Wine Jens Voldmester.

Briefly about Globus Wine and the Danish wine market

Globus Wine, founded in 2006, is the first wine company in Denmark. Globus Wine sources bulk wine which is packaged in bag-in-boxes or bottles at the Køge production plant. The products are sold under own brands or 3rd party marks. Globus Wine has strong in-house branding capabilities, which has made it the leading supplier to wine brands, such as Il Capolavoro and California Route 2, in the Danish grocery store. Customers include leading retail chains in Denmark as well as major international wine houses. The company employs 139 people in Denmark and they will continue as employees of Globus Wine.

Globus Wine is widely recognized for its strong capabilities throughout the value chain. Globus Wine has efficient and modern production facilities, built in 2018, in Køge, Denmark. Globus Wine’s total volume in 2021 exceeded 50 million liters, and it has the largest bag-in-box filling capacity in North Europe.

Globus Wine A/S adjusted key figures

2021 2020
Net sales, millions of DKK 549.6 530.1
Adjusted EBITDA*, DKK million 66.2 51.9
Adjusted EBITDA margin, % 12.0% 9.8%
Net sales broken down by business sector: own brands 63% and fillers 37%

*) EBITDA adjusted by IFRS 16 accounting for leasing in accordance with Anora accounting principles.

The Danish wine market is attractive as it is the second largest wine market in the Nordic countries with per capita wine consumption comparable to Sweden and positive growth prospects. Danish wine market growth for 2021-2025 is estimated at 1-3%. Red wine is the dominant category, while rosé and white wines are experiencing the fastest growth in value and volume. (source: Euromonitor)

Purchase price and acquisition financing

The purchase price is DKK 596.4 million (80 million euros) and it will be paid in cash. Anora will finance the acquisition by debt.

Scheduled closure

The agreement was signed on June 22, 2022 and, with no regulatory approvals required, the transaction is expected to close in early July. Anora will consolidate Globus Wine for Anore Group from Q3 2022.

Orientation unchanged

The acquisition is expected to have a positive impact on Anora’s comparable EBITDA, however, guidance for 2022, as published on March 10, 2022remains unchanged: “Anora’s comparable EBITDA in 2022 is expected to be between 75-85 million euros. This corresponds to the pre-pandemic level and takes into account the annual impact of 4.6 million euros of the sale of the Anora brands following the merger”.

Briefing for analysts, investors and the media

Anora will hold a briefing today for analysts, investors and the media on June 22, 2022 at 1:00 p.m. ET. CEO Pekka Tennila and financial director Sigmund Toth will present the transaction, followed by a Q&A. Questions can be asked via the Teams chat. A recording of the call and presentation materials will be available on Anora’s website shortly after the event.

Please join the event using the online meeting option: Join meeting here

It is also possible to connect to the meeting approximately 5 minutes earlier at the following numbers:

FI: +358 9 2310 6678

NO: +47 21 40 41 04

SE: +46 8 502 428 54

UK: +44 20 7660 8309

USA: +1 917-781-4622

Conference number: 749 404 502#

ANORA GROUP PLC

Further information :

Pekka TennilaCEO

Sigmund TothCFO

contacts:

Analysts and investors: Tua Stenius-Örnhjelm, Investor Relations, tel. +358 40 748 8864

Media: Petra Gräsbeck, Corporate Communications, tel. +358 40 767 0867

Distribution:

Nasdaq Helsinki Ltd

Central storage facility (OAM)

Main media

www.anora.com

Anora is one of the Nordic region’s leading wine and spirits brands and a global industry leader in sustainability. Our market-leading portfolio consists of our own iconic Nordic brands and a wide range of leading international partner wines and spirits. We export to over 30 markets worldwide. Anore Group also includes Anora Industrial and the logistics company Vectura. In 2021, Anora’s pro forma revenue was 665 million euros and the company employs approximately 1,100 professionals. Anora’s shares are listed on Nasdaq Helsinki.

https://news.cision.com/anora/r/anora-acquires-globus-wine–the-leading-wine-company-in-denmark–to-further-strengthen-its-position-,c3589858

https://mb.cision.com/Main/3171/3589858/1595972.pdf

(c) Decision 2022. All rights reserved., sources Press Releases – English

Shirley M. Pinder