M&As this week: Gilla, AKD Securities, The Hut Group

20 July 2018 (Last Updated July 20th, 2018 12:08)

Gilla Inc has signed a letter of intent for the acquisition of the issued and outstanding shares of TB INVEST BVBA (TB INVEST).

Gilla Inc has signed a letter of intent for the acquisition of the issued and outstanding shares of TB INVEST BVBA (TB INVEST).

The company will pay $15.45m to the TB INVEST vendors as consideration for the acquisition.

Gilla is a producer of E-liquid for vapourisers and developer of cannabis concentrate products, while TB INVEST is a retailer and marketer of E-liquid and other vapour products in Belgium.

Scheduled for completion by October, the transaction will enable Gilla to integrate its production and distribution platform with TB INVEST’s wholesale and retail network.

AKD Securities Limited, on behalf of OBS Pakistan Private Limited, intends to acquire a 90.99% stake in Globe Textile Mills Limited.

OBS Pakistan is engaged in the production and sales of pharmaceutical and consumer health products.

The 90.99% stake represents 14,891,829 ordinary shares and OBS Pakistan will also take control of the management of Globe Textile Mills, upon completion of the acquisition.

The Hut Group (THG) has completed the acquisition of Language Connect for an undisclosed sum.

THG is an online health and beauty retailer, while Language Connect is a services firm engaged in the language translation and localisation business.

The acquisition will bring more investment into the Ingenuity platform of THG.

“The acquisition enables SSC to fortify its market presence in Indonesia and expand business for its existing assets.”

The transaction enables Hut Group to expand its presence with offices in London, New York, Singapore, Dubai, Munich, and Melbourne.

La-Z-Boy Incorporated has entered a definitive agreement for the acquisition of Joybird (trade name of Stitch Industries Inc) for an undisclosed sum.

La-Z-Boy is an online manufacturer of upholstered furniture, while Joybird produces custom, mid-century, modern upholstered furniture.

Joybird will become a wholly owned subsidiary of La-Z-Boy, upon completion of the transaction.

The deal will enable La-Z-Boy to improve its online presence and leverage its supply chain assets.

Siam Cement Public (SSC) has signed conditional agreements to acquire a 29% stake in PT Catur Sentosa Adiprana (CSA) for $72m.

Based in Thailand, SSC is a cement and building material company, while CSA is a retailer of home products in Indonesia.

The acquisition enables SSC to fortify its market presence in Indonesia and expand business for its existing assets.

SCG Retail Holding, a wholly owned subsidiary of SCC, will manage the transaction on its behalf.