Viva Wine Group completes the acquisition of Target Wines AS
Viva Wine Group AB (“Viva Wine Group” or “the Company”) through its subsidiary Norwegian Beverage Group AS, today announces that the previously communicated acquisition of the Norwegian wine supplier Target Wines AS has been successfully completed according to plan.
The closing of the Transaction has taken place today February 2nd 2024 and the purchase price of NOK 44 million on a cash and debt free basis, before adjustment of normalised working capital, was paid in cash. Target Wines AS will be consolidated in Viva Wine Group's consolidated financial reporting as of February 2024 and included in segment Nordics.
Target Wines AS is a company with extensive knowledge in developing private labels for the Norwegian market. By including Target Wines AS sales to Viva Wine Group’s increasingly growing subsidiary Norwegian Beverage Group, Norwegian Beverage Group will continue to solidify its position as one of the leading importers of wine in Norway.
FNCA Sweden AB is the Company's Certified Adviser on Nasdaq First North Premier Growth Market.
For further information, please contact:
Petter Wulff, CEO Norwegian Beverage Group
Mobile: +47 416 84 030
Linn Gäfvert, CFO Viva Wine Group
Mobile: + 46 730 86 89 90