Samarkand Group plc (SMK) Samarkand Group plc : Replacement:
Napiers the Herbalists acquisition 02-Nov-2021 / 09:46 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS
Group. The issuer is solely responsible for the content of this
announcement.
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The following amendments have been made to the 'Napiers the
Herbalists acquisition' announcement released on 2 November 2021 at
07:00.
The contingent consideration has been changed to 'USD0.7m' from
'USD0.7k'
All other details remain unchanged. The full amended text is
shown below.
2 November 2021
Samarkand Group plc
("Samarkand", the "Company" or together with its subsidiaries
the "Group")
Napiers the Herbalists acquisition
Samarkand Group plc, the cross-border eCommerce technology and
consumer brand group, is pleased to announce the acquisition of
Napiers the Herbalists ("Napiers").
Founded in 1860, by the renowned herbalist Duncan Napier in
Edinburgh, Napiers is an iconic Scottish brand which still operates
from its original apothecary store in Bristo Place and its website
Napiers.net. For more than 160 years Napiers has served the people
of Edinburgh and beyond with its unique blend of herbal remedies,
food supplements, skincare and wellness products. More recently the
company has increased its appeal to consumers in Asian markets
through its partnership with a large Korean skincare brand and its
work with Samarkand as its distributor.
Samarkand has had a commercial relationship with Napiers for
more than 3 years. The Group intends to expand Napiers products and
services in its home market of the UK and internationally in China
and beyond. The directors of Samarkand believe that Napiers is an
attractive acquisition for the Group and will make use of
Samarkand's technology, supply chains and benefit from synergies
between the previous wellness acquisitions of Probio7, Zita West
Products and Baba West.
The combined assets of Napiers generated GBP1m of revenue in the
year ended 31 March 2021 and an EBITDA of GBP0.24m on an unaudited
basis.
Total consideration comprises:
-- Initial consideration of GBP1.7m in cash on a net debt net
cash basis;
-- Deferred consideration of GBP0.1m in cash payable between 6
and 9 months after the completion date; and
-- Contingent consideration of up to USD0.7m payable upon
certain events occurring post acquisition which willbe settled
either in cash or the issuance of new Ordinary Shares, at the
discretion of Company
David Hampstead, Chief Executive Officer of Samarkand Group,
commented: "We've worked with Napiers and their team for a number
of years and have always been impressed by the consumer response to
the company's story and values. Napiers is a one of a kind truly
authentic brand with significant potential. The acquisition
signifies a clear execution of the Group's strategy laid out at the
time of listing. As we take on the responsibility of looking after
Napiers for the next 160 years we are looking forward to bringing
it to many more consumers in the UK and internationally."
Monica Wilde, Managing Director of Napiers, commented: "I am
delighted that Napiers has found a new home in a Group which can
see the considerable prospects of this special brand. We are
looking forward to working with the Samarkand team on the next
chapter in Napiers history."
For more information, please contact:
Samarkand Group plc Via Alma PR
David Hampstead, Chief Executive Officer
http://samarkand.global/
Eva Hang, Chief Financial Officer
VSA Capital - AQSE Corporate Adviser and Broker +44(0)20 3005 5000
Andrew Raca, James Deathe, Pascal Wiese (Corporate Finance)
IPO@vsacapital.com
Andrew Monk (Corporate Broking)
Alma PR +44(0)20 3405 0213
Josh Royston
Robyn Fisher samarkand@almapr.co.uk
Joe Pederzolli
Notes to Editors
Napiers the Herbalists was founded by Duncan Napier in Edinburgh
in 1860. Apart from a brief period, Napiers has traded continuously
from its store in Bristo Place Edinburgh. Duncan Napier was a
renowned herbalist who exported widely in the 19th and early 20th
centuries. Many of the original herbal recipes developed by Duncan
Napier remain in use today. More information about Napiers can be
found at https://en.wikipedia.org/wiki/Duncan_Napier
Samarkand is a cross-border eCommerce technology and retail
group focusing on connecting Western Brands with China, the world's
largest eCommerce market. The Group has developed a proprietary
software platform, the Nomad platform, which is integrated across
all necessary touch-points required for eCommerce in China
including eCommerce platforms, payments, logistics, social media
and customs. The Nomad platform is the foundation on which the
Group's Nomad technology and service solutions are built. The core
products include Nomad Checkout, Nomad Storefront, Nomad Commerce
and Nomad Distribution.
The Company's current customer base comprises leading European
brands such as 111SKIN, Shay & Blue, Omorovicza, ICONIC London,
Philip Kingsley and Temple Spa. Samarkand has also successfully
grown its own brand, Probio7, acquired in December 2017 and
announced, in May 2021, the acquisition of Zita West Products and
Babawest.
Founded in 2016, Samarkand is headquartered in London, UK with
offices in Shanghai and Tokyo employing over 140 staff.
For further information please visit
https://www.samarkand.global/
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ISIN: GB00BLH1QT30
Category Code: MSCH
TIDM: SMK
Sequence No.: 125792
EQS News ID: 1245409
End of Announcement EQS News Service
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(END) Dow Jones Newswires
November 02, 2021 05:47 ET (09:47 GMT)
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