Business
Acquisition of CSS Industries, Inc.and Placing'
Acquisition of CSS Industries, Inc.and Placing'.
About this update from Ig Design Group Plc
[{"type":"text","content":"\n \nRNS Number : 3706A IG Design Group PLC 20 January 2020 \n\nTHIS ANNOUNCEMENT (TOGETHER WITH THE APPENDIX, THE \"ANNOUNCEMENT\") AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, THE REPUBLIC OF IRELAND, SWITZERLAND, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (596/2014/EU) (\"MAR\"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION. \nPLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT. \n20 January 2020\nIG Design Group PLC\n(\"Design Group\", the \"Company\" or the \"Group\")\nProposed Acquisition of CSS Industries, Inc. (\"CSS\")\nand\nAccelerated Bookbuild to raise £120.0 million \nIG Design Group plc, one of the world's leading designers, innovators and manufacturers of celebrations, gifting, stationery and creative play products, today announces that a newly formed wholly owned subsidiary of IG Design Group Americas, Inc., Tom Merger Sub Inc., has entered into a merger agreement to acquire 100 per cent. of the equity interest in CSS Industries, Inc., a US based designer and manufacturer of craft, seasonal and gift products, for $9.40 per share, which represents an Enterprise Value of approximately £89.7 million1 (the \"Acquisition\") and an approximate Adjusted EBITDA multiple2 for the current financial year of 5.0 times. The Directors expect the Acquisition to be earnings enhancing in the first full year of acquisition. \n \nCSS specialises in the creative development, manufacture and sale of its products through a multi-channel distribution model to a broad base of leading mass, speciality and online retailers and distributors, predominately within the US. CSS is expected to deliver n...