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

Adairs Ltd Acquires Focus On Furniture - M&A Call Transcript

Nov 25, 2021 / 12:45AM GMT

Release Date Price: €2.24 (+3.70%)

Transcript

Operator

Thank you for standing by, and welcome to the Adairs Limited Company Update. (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

Thank you. First, I'd like to thank everyone for joining us on the call today. And with me is our CFO, Ashley Gardner; and our Head of Investor Relations, Jamie Adamson. We're excited today to announce the acquisition of Focus on Furniture, a vertically integrated omnichannel furniture retailer operating in Australia for an enterprise value of $80 million on a debt-free basis. Focus is a strongly profitable furniture retailer currently operating 23 stores together with a growing online business. In line with our retail philosophy, Focus is a vertically integrated business with all product design and development done in-house in Melbourne, allowing them to deliver a strong collection of well-designed, functional and on-trend home furniture and bedding.

As with our Adairs and Mocka brands

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