Vimian (Buy, TP: SEK120.00) - Acquires GlobalOne Pet Products
On Friday, Vimian announced the acquisition of the specialty nutrition company GlobalOne Pet Products. With annual revenues of cUSD20m, this deal represents the largest transaction made by Vimain since the IPO. The purchase price amounts to cUSD50m, with the possibility of an additional USD30m, implying a transaction multiple of EV/EBITDA of 10x. While we view the deal as positive, we find it hard to call the stock as markets open.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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