bigdug - july 2015 cuttings
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11TAKKT AG (TTK) 0LikeLike
07/02/2015 | 10:40am US/Eastern
TAKKT : acquires leading online
direct-marketing specialist for
business equipment in the UK
Stuttgart, Germany, July 2, 2015. Today, the TAKKT Group company
KAISER+KRAFT EUROPA GmbH has acquired 100 per cent of the
shares of BiGDUG Ltd., a company headquartered in Gloucester (UK).
KAISER+KRAFT EUROPA had entered into a share purchase
agreement on 18 June 2015 which was subject to the approval of the
Supervisory Board of TAKKT AG, which was given today. In the financial
year 2014/2015, BiGDUG generated turnover of approximately £ 19
million and an EBITDA margin in the middle of the TAKKT target corridor
of 12 to 15 per cent. BiGDUG will become a part of TAKKT EUROPE's
Business Equipment Group.
BiGDUG is a leading and established specialist in the online sale of
business equipment, with an emphasis on racking and shelving products
and storage solutions with over 250,000 customers in the UK. The
company sells over 20,000 products, predominately online via its main
website www.bigdug.co.uk. "The acquisition of BiGDUG is an important
milestone in our portfolio strategy to further strengthen our online
activities and is therefore an ideal addition to our current businesses",
commented Felix Zimmermann, CEO of TAKKT AG.
BiGDUG has been able to build a loyal customer base in the UK with
innovative marketing campaigns and a target group-oriented product
range. "Since its foundation in 2004 BiGDUG has enjoyed very strong
and profitable growth," added Claude Tomaszewski, CFO of TAKKT
AG.
The purchasing price for the shares on a cash-free debt-free basis of £
19 million was paid in cash upon completion of the transaction. In
addition, a further potential and variable purchase price component (earn
out) of up to £ 6.3 million was agreed. This earn out depends on the
achievement of certain agreed performance goals over the next three
years and would be payable in 2018.
The previous owners, Doug Nourse and Jon Powell, will continue to be
responsible for the future development of the company after completion
of the transaction. "We're excited to have found such an ideal purchaser
as TAKKT for BiGDUG, and they will help facilitate our further growth to
make BiGDUG even bigger," said co-founder Doug Nourse.
BiGDUG will be included in the TAKKT Group figures starting July 2,
2015.
About TAKKT AG
TAKKT is the leading B2B direct marketing specialist for business
equipment in Europe and North America. The Group is represented with
its brands in more than 25 countries. The product range of the TAKKT
subsidiaries comprises more than 200,000 products for the areas of
plant and warehouse equipment, office furniture, transport packaging,
display articles, equipment for retailers, the food service industry and the
hotel market.
The TAKKT Group has over 2,000 employees and just under three
million customers worldwide. The company is listed on the SDAX and
the Deutsche Boerse Prime Standard.
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BiGDUG acquired by TAKKT for
£19million
Shelving and racking company BiGDUG, based at Riga Wharf, Gloucester has been
acquired by the Germany-based business TAKKT for £19million.
TAKKT, a leading direct marketing specialist for business equipment in Europe and
North America, acquired 100% of BiGDUG Ltd. BiGDUG will now become a part of
TAKKT Europe’s Business Equipment Group (BEG).
In the 2014/15 financial year BiGDUG generated turnover of approximately £19million.
Based in Gloucester, BiGDUG is a leading and established specialist in the online
sale of business equipment, with an emphasis on storage solutions, and racking and
shelving products. In just over a decade the company has grown to become the
largest online retailer of shelving, racking and storage products in the UK. It now sells
more than 20,000 storage products to over 250,000 customers.
“The acquisition of BIGDUG is an important milestone in our portfolio strategy to
further strengthen our online activities and is therefore an ideal addition to our current
businesses”, commented Felix Zimmermann, CEO of TAKKT AG.
BiGDUG has been able to build a loyal customer base in the UK with innovative
marketing campaigns and a target group-oriented product range. “Since its
foundation in 2004 BIGDUG has enjoyed very strong and profitable growth,” added
Claude Tomaszewski, CFO of TAKKT AG.
To acquire a 100% share of BiGDUG Ltd, a purchase price of £19million was paid
upon completion of the transaction. In addition, a further potential purchase price
component of up to £6.3million is attainable based upon performance goals over the
next three years and would be payable in 2018.
Previous owners, Doug Nourse and Jon Powell, will continue to be responsible for the
future development and strategic direction of the company following the transaction.
Doug Nourse commented: “We’re excited to have found such an ideal purchaser for
BiGDUG, and they will help facilitate our further growth. This will be great for
Gloucestershire and is sure to provide a positive economic impact on the company
who are a leading employer within the county.”
BiGDUG is the UK’s best value online shelving, racking and storage company
supplying a professional service to both business and domestic customers. For more
information about BiGDUG visit www.bigdug.co.uk.
Published on: 12:22PM on 6th July 2015
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Home > Takkt buys racking firm Bigdug in £19m deal
Takkt buys
racking firm
Bigdug in £19m
dealPublished Monday 6 July 2015 11:18 am
Kaiser + Kraft Europa, a subsidiary
of Takkt Group, has acquired UK
racking and shelving firm Bigdug in
a £19m deal, with potential for a
further £6.3m payout dependent on
performance over the next three
years.
Previous owners, Doug Nourse and
Jon Powell, will continue to be
responsible for the future development
of the company after completion of the
transaction.
Felix Zimmermann, CEO of Takkt, said:
“The acquisition of Bigdug is an
important milestone in our portfolio
strategy to further strengthen our
online activities and is therefore an
ideal addition to our current
businesses.”
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10.07.2015 10:29»ACF Daily«-NewsTAKKT acquires UK-basedBiGDUG Ltd.abGermany-based Takkt Group company Kaiser+Kraft Europa GmbH has acquiredUK-based BiGDUG Ltd., a specialist in the online sale of racking and shelving productsand storage solutions, for a consideration of GBP 19m. (Read more ↗)[ <- Zurück zu: News ]
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1 of 1 16/07/2015 10:07
Written by: Peter McMillan | Posted 08 July 2015 12:39
Gloucestershire News
In association with
Shelving firm BigDUG moving storage operation to Vantage Point Business
Village, Mitcheldean
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Hot on the heels of its £19 million takeover, shelving and racking firm BiGDUG is moving its storage operation to Vantage Point Business Village with
the potential for more jobs in the pipeline.
The Gloucestershire company became a global player when it was sold to German business equipment specialists TAKKT at the beginning of the
month.
That was to facilitate its expansion as it outgrew its Tewkesbury base on Newtown Industrial Estate.
Within the next six weeks, the warehousing operation, involving 20 staff, will be installed at Vantage Point Business Village, while the office and
administration headquarters relocates to Riga Wharf in Bristol Road, Gloucester.
Company founders Doug Nourse and Jon Powell will remain at the helm, guiding its future development and strategic direction.
The Gloucestershire businessmen set up the mail order shelving and racking firm 10 years ago.
“The move to Mitcheldean underlines the company’s proactive approach to future expansion on the back of its purchase by TAKKT,” said Mr Nourse.
“We are a one-stop, online shop for all storage solutions - from shelving through to packaging.
“This is great news for Gloucestershire and it’s a boost for employment prospects throughout the area.”
The move to Mitcheldean represents another coup for Vantage Point Business Village, which saw GE Aviation’s Dowty Propellers relocate from its
factory at Staverton to the site following a major blaze earlier this year.
The former Rank Xerox site, which closed in 2001, is now 95 per cent occupied, according to the man who rescued it more than a decade ago,
Vantage Point chairman Brian Bennett.
“I am delighted with BiGDUG’s move to the business village – it’s been a highly successful year to date,” said Mr Bennett.
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2 of 3 16/07/2015 10:02
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11TAKKT AG (TTK) 0LikeLike
07/10/2015 | 05:13pm US/Eastern
TAKKT : All staff to keep jobs at
shelving firm despite recent
Pounds 19m takeover
A SHELVING and racking company leaving Tewkesbury after a Pounds
19million takeover has insisted that its workers will keep their jobs.
BiGDUG, based in Green Lane on the Newtown Industrial Estate, has
been acquired by the Germany-based business TAKKT.
It is moving its storage operation to Vantage Point Business Village in
Mitcheldean while the office and administration headquarters relocates
to Riga Wharf in Bristol Road, Gloucester. BiGDUG, founded by Doug
Nourse and Jon Powell 10 years ago, said it had outgrown the
Tewkesbury site. But a company representative said: "All staff have kept
their jobs."
The Tewkesbury site is due to close by the end of August.
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