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Viva Wine Group completes the acquisition of Target Wines AS

Viva Wine Group AB (“Viva Wine Group” or “the Company”) through its subsidiary Norwegian Beverage Group AS, today announces that the previously communicated acquisition of the Norwegian wine supplier Target Wines AS has been successfully completed according to plan.

The closing of the Transaction has taken place today February 2nd 2024 and the purchase price of NOK 44 million on a cash and debt free basis, before adjustment of normalised working capital, was paid in cash. Target Wines AS will be consolidated in Viva Wine Group's consolidated financial reporting as of February 2024 and included in segment Nordics.

Target Wines AS is a company with extensive knowledge in developing private labels for the Norwegian market. By including Target Wines AS sales to Viva Wine Group’s increasingly growing subsidiary Norwegian Beverage Group, Norwegian Beverage Group will continue to solidify its position as one of the leading importers of wine in Norway.

Certified Adviser
FNCA Sweden AB is the Company's Certified Adviser on Nasdaq First North Premier Growth Market.

For further information, please contact:
Petter Wulff, CEO Norwegian Beverage Group
Mobile: +47 416 84 030
Email: p.wulff@nbgroup.no

Linn Gäfvert, CFO Viva Wine Group
Mobile: + 46 730 86 89 90
Email: linn.gafvert@vivagroup.se

About Us

Viva Wine Group is the leading wine group in the Nordic monopoly markets, with a strong position in the European e-commerce market for wine. The Group consists of a collection of entrepreneurial companies with head office in Stockholm, developed through organic growth and strategic acquisitions. Viva Wine Group develops, markets, and sells both wholly owned and partner brands and offers affordable quality wines from all over the world to consumers in locations such as the Nordic countries, Germany, Switzerland, Austria, the Czech Republic, France, and the Netherlands. Sustainability is one of our foremost driving forces and we are a leader within certified ethical and organic wine. www.vivagroup.se/en

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Viva Wine Group completes the acquisition of Target Wines AS

Datum 2024-02-02, kl 14:00
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Viva Wine Group completes the acquisition of Target Wines AS
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