Adairs Ltd (FRA:1FQ)

€ 1.17 0.02 (1.74%) Market Cap: 208.02 Mil Enterprise Value: 365.86 Mil PE Ratio: 9.48 PB Ratio: 1.48 GF Score: 86/100

Mocka Limited, Adairs Limited - M&A Call Transcript

Dec 04, 2019 / NTS GMT

Release Date Price: €1.31 (+21.30%)

Transcript

Operator

Thank you for standing by, and welcome to the Adairs Limited Conference Call. (Operator Instructions)

I would now like to hand the conference over to Mr. Mark Ronan, Managing Director and CEO. Please go ahead.

Mark Ronan

Adairs Limited - MD, CEO & Executive Director

Good morning, all. We are glad that you could make the time to join us as we announce details of Adairs' acquisition of Mocka, a vertically integrated pure-play digital home and living products designer and retailer operating across New Zealand and Australia.

The acquisition of an online pure-play business with strong sales growth, good margins and high levels of profitability and cash generation is a great strategic fit with Adairs. The transaction will see Adairs acquire 100% of Mocka for a notional enterprise value of NZD 80 million with $43.4 million payable in cash, $5.7 million payable in Adairs' shares and variable deferred payments based on earnings for the FY '21, '22 and potentially '23 years.

The transaction will be funded by an increase in our debt facility

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