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AIMIA ANNOUNCES ACQUISITION OF BOZZETTO GROUP FOR $328 MILLION
AIMIA ANNOUNCES ACQUISITION OF BOZZETTO GROUP FOR $328 MILLION Canada NewsWire ...
About this update from Aimia Inc.
[{"type":"text","content":"\n \n \n \n AIMIA ANNOUNCES ACQUISITION OF BOZZETTO GROUP FOR $328 MILLION\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n GENERATED $47 MILLION IN ADJUSTED EBITDA IN 2022 WITH 14.5% ADJUSTED EBITDA MARGIN\n \n \n \n \n (All figures in Canadian dollars unless otherwise noted and are subject to change due to currency fluctuations)\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n March 6, 2023\n \n \n /CNW/ - Aimia Inc. (TSX: AIM) has announced today that it has signed a definitive agreement to acquire substantially all of the issued and outstanding shares of\n \n Giovanni Bozzetto S.p.A\n \n . (referred to as \"Bozzetto Group\", \"Bozzetto\", the \"Company\") from Chequers Capital and other minority shareholders.\n \n \n Acquisition of Bozzetto\n \n \n The purchase price will be based on an enterprise value of approximately\n \n $328 million\n \n \n (1)\n \n . It is anticipated that the acquisition will be financed with a combination of cash and debt, with an expected level of debt of around 3x Adjusted EBITDA, or approximately\n \n $135 million\n \n . Bozzetto achieved annual revenue of approximately\n \n $326 million\n \n \n (1)(2)\n \n and Adjusted EBITDA of\n \n $47 million\n \n \n (1)(2)\n \n with an Adjusted EBITDA margin of 14.5%\n \n (2)\n \n for the fiscal year ended\n \n December 31, 2022\n \n , with higher than 80% free-cash flow conversion\n \n (3)\n \n . Transaction closing, which is subject to regulatory approval and other customary closing conditions, is expected to o...