Business
Completion of Acquisition of AV Distribution Ltd
Completion of Acquisition of AV Distribution Ltd.
About this update from Gear4music (holdings) Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 2948U\n Gear4music (Holdings) PLC\n 02 December 2021\n \n \n \n \n \n 2 December 2021\n \n \n \n \n \n Gear4music (Holdings) plc\n \n \n \n \n \n Completion of Acquisition of AV Distribution Ltd\n \n \n \n \n \n The Board of Gear4music (LSE: G4M), the largest UK based online \n retailer of musical instruments and music equipment, announces that further to its announcement on 9 September 2021, it has completed the acquisition of AV Distribution Ltd.\n \n \n Commenting on the announcement, Andrew Wass, Chief Executive Officer said:\n \n \n \n \n \n \"We are very pleased to have completed the acquisition of AV Distribution Ltd trading as AV Online, and welcome the team into the Gear4music Group. \n \n \n \n \n \n AV Online is an online retailer of audio-visual equipment, including HiFi speakers and home cinema systems. With the launch of AV.com scheduled for January, we look forward to building on the profitable growth achieved by AV Distribution Ltd, and leveraging the strength of our e-commerce platform and our European infrastructure to accelerate our growth in this £2.7bn European market.\n \n \n \n We are also pleased to report our systems and supply chain operations have performed well over the busy Black Friday and Cyber Monday period, and we continue to be confident that our full year financial results will be in line with the recently revised consensus market expectations*.\"\n \n \n \n * Gear4music believes that consensus market expectations for the year ending 31 March 2022 are currently revenue of £149.2 million and EBITDA of £12.0 million.\n \n \n \n ENDS\n \n \n Enquiries:\n \n \n \n \n \n \n \n \n Gear4music\n \n \n Andrew Wass, Chief Executive Officer\n \n \n Chris Scott, Chief Financial Officer\n \n \n \n \n +44 (0)20 3405 0205\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Singer Capital Markets - Nominated Adviser and Joint Broker\n \n \n Peter Steel/Amanda Gray, Corporate Finance\n \n \n Tom Salvesen, Corporate Broking\n \n \n \n \n +44 (0)20 7496 3000\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Investec Bank plc - Joint Broker\n \n \n David Flin\n \n \n Alex Wright\n \n \n Harry Hargreaves\n \n \n \n \n +44 (0)20 7597 5970\n \n \n \n \n \n \n \n \n \n ...