2022-06-22 09:30:00 CEST

2022-06-22 09:30:15 CEST


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Anora Group Oyj - Inside information

Anora acquires Globus Wine, the leading wine company in Denmark, to further strengthen its position as the leading Nordic wine and spirits group


Anora Group Plc   Inside information   22 June 2022 at 10:30 am EET

Anora acquires Globus Wine, the leading wine company in Denmark, to further
strengthen its position as the leading Nordic wine and spirits group

Anora has signed an agreement to acquire 100% of Globus Wine A/S, the leading
wine company in Denmark. Globus Wine has successfully built a wine business with
top-selling own wine brands, and it has the largest capacity in Northern Europe
to offer filling services to international wineries and wine importers. As a
continuation to the merger last fall, the acquisition of Globus Wine strengthens
Anora's position as the leading wine supplier in the Nordics. With the
acquisition, Anora will become the market leader in the Danish wine market in
addition to its leading position in the other three Nordic countries.
Furthermore, the acquisition will support the expansion of Anora's partner and
own wine businesses across the Nordics.

In 2021, Globus Wine's net sales were DKK 549.6 million and adjusted EBITDA was
DKK 66.2 million. The purchase price is DKK 596.4 million (EUR 80 million) which
equals an enterprise value of DKK 669.6 million (EUR 90 million).

“I am very excited to be able to announce Anora's first acquisition today.
Globus Wine is a market leader in Denmark with consistent above-market growth
during the last years. Through this acquisition, Denmark will be one of our
markets where we have leading positions in both wine and spirits. Like
Anora, Globus Wine believes in sustainable business, using wind power and
significantly reducing the CO₂ footprint of wine with logistics solutions and
climate-smart packaging. I warmly welcome Globus Wine to Anora,” says Anora's
CEO Pekka Tennilä.

“This acquisition does not only make Anora the market leader in the highly
competitive Danish wine market, but also strengthens our wine business area.
Globus Wine's skilled and professional teams have built a successful own wine
brands business with their strong capabilities in brand-building and wine
sourcing. I look forward to our future collaboration, through which we can
further build and grow our own wine brands across all our markets,” says Janne
Halttunen, SVP, Wines.

“We are excited to become a part of the Anora family. Anora is a perfect match
for Globus Wine, and we are very much looking forward to further developing the
Nordic market together with Anora. With Anora's strong position and very high
competencies in wine, I am sure that under the new ownership combined with a
strong and passionate organisation in Globus Wine, we can continue the journey
that Globus Wine is on and expand our position with our own brands, as well as
the market for filling solutions,” says Globus Wine CEO Jens Voldmester.

Briefly about Globus Wine and the Danish wine market

Globus Wine, founded in 2006, is the leading wine company in Denmark. Globus
Wine sources wine in bulk which is filled in either bag-in-boxes or bottles at
the production facility in Køge. Products are sold under own brands or 3[rd]
party brands. Globus Wine has strong in-house brand building capabilities which
have made it the leading provider of wine brands, such as the Il Capolavoro and
California Route 2, in the Danish grocery trade. Customers include leading
retail chains in Denmark as well as large international wine houses. The company
employs 139 people in Denmark and they will continue as employees of Globus
Wine.

Globus Wine is widely recognised for its strong capabilities throughout the
value chain. Globus Wine has efficient and modern production facilities, built
in 2018, in Køge, Denmark. Globus Wine's total volume in 2021 exceeded 50
million litres, and it has the largest bag-in-box filling capacity in Northern
Europe.

Globus Wine A/S adjusted key figures

                                                                     2021   2020
Net sales, DKK million                                              549.6  530.1
Adjusted EBITDA*, DKK million                                        66.2   51.9
Adjusted EBITDA margin, %                                           12.0%   9.8%
Net sales split by line of business: own brands 63% and filler 37%

*) EBITDA adjust by IFRS 16 accounting for leasing in line with Anora accounting
principles.

The Danish wine market is attractive as it is the second largest wine market in
the Nordics with a wine consumption per capita on par with Sweden and a positive
growth outlook. The Danish wine market growth for 2021-2025 is estimated at 1
-3%. Red wine is the dominant category, while rosé and white wines are growing
the fastest in value and volume. (source: Euromonitor)

Purchase price and financing of the acquisition

The purchase price is DKK 596.4 million (EUR 80 million) and it will be paid in
cash. Anora will finance the acquisition with debt.

Expected closing

The agreement was signed on 22 June 2022 and, with no regulatory approvals
needed, the transaction is expected to be closed in the beginning of July. Anora
will consolidate Globus Wine to Anora Group as of Q3 2022.

Guidance unchanged

The acquisition is expected to have a positive impact on Anora's comparable
EBITDA, however, the guidance for 2022, as issued on 10 March 2022, remains
unchanged: “Anora's comparable EBITDA in 2022 is expected to be between EUR 75
-85 million. This corresponds to the pre-pandemic level and takes into account
the annual impact of EUR 4.6 million of the divestment of Anora brands due to
the merger”.

Briefing for analysts, investors and the media

Anora will host a briefing for analysts, investors and the media today on 22
June 2022 at 1:00 pm EET. CEO Pekka Tennilä and CFO Sigmund Toth will present
the transaction, followed by a Q&A. Questions can be asked through the Teams
chat. A recording of the call and the presentation material will be available on
Anora's website shortly after the event.

Please join the event using the online meeting option: Join meeting
here (https://teams.microsoft.com/l/meetup
-join/19%3ameeting_ZmEwZWE4NzAtN2FmZS00YzczLTk1YTMtNTQ0YTNmYWFiYjE2%40thread.v2/0
?context=%7b%22Tid%22%3a%22c32b30ff-5871-4a7d-a29e
-6f63e6b0ebfd%22%2c%22Oid%22%3a%22d962bdab-ca8e-4e3f-9cc3-2f868d5a7ef3%22%7d)

It is also possible to dial-in to the meeting about 5 minutes earlier at the
following numbers:

FI: +358 9 2310 6678

NO: +47 21 40 41 04

SE: +46 8 502 428 54

UK: +44 20 7660 8309

US: +1 917-781-4622

Conference ID: 749 404 502#

ANORA GROUP PLC

Further information:

Pekka Tennilä, CEO

Sigmund Toth, CFO

Contacts:

Analysts and investors: Tua Stenius-Örnhjelm, Investor Relations, tel. +358 40
748 8864

Media: Petra Gräsbeck, Corporate Communications, tel. +358 40 767 0867

Distribution:

Nasdaq Helsinki Ltd

Central Storage Facility (OAM)

Principal media

www.anora.com

Anora is a leading wine and spirits brand house in the Nordic region and
aglobalindustry forerunner in sustainability. Our market-leading portfolio
consists of our own iconic Nordic brands and a wide range of prominent
international partner wines and spirits. We export to over 30 markets globally.
Anora Group also includes Anora Industrial and logistics company Vectura. In
2021, Anora's pro forma net sales were EUR 665 million and the company employs
about 1,100 professionals. Anora's shares are listed on Nasdaq Helsinki.


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