S-Ventures PLC - Acquisition of Hero UK Ltd Trading as Juvela
Announcement provided byS-Ventures Plc · SVEN
15th December 2022
("S-Ventures" or the "Company")
Acquisition of Hero
S-Ventures plc (AQSE: SVEN) (OTCQB: SVTPF), the enterprise company investing in and growing exciting brands across the natural, wellness and food-tech categories, is pleased to announce the acquisition of 100% of the share capital of Hero
Terms of the Acquisition
S-Ventures plc has agreed to acquire Juvela from the Vendor for a consideration of
The cash is split
The five million shares to be issued to Hero Group as part of the consideration, will represent 3.8% of the Company's enlarged share capital and will make Hero group a new shareholder and partner in S-Ventures PLC.
The Hero Group is an international food company focused on branded nutritional food products which generated revenues of
In order to provide funding for the Acquisition and for general working capital needs, S-Ventures PLC has also entered into new loan facilities provided by Shawbrook Bank Limited including a four year term loan of
Juvela is a business manufacturing and distributing gluten-free and free-from products from its factory in Pontypool,
In the year ended 31 December 2021, Juvela achieved a gross revenue of
Further information on Juvela may be found at: https://www.juvela.co.uk
The synergies between the Group's existing brands and Juvela are extensive with many opportunities to combine resources and cross fertilise brands and distribution channels, especially with the Group's Lizza business, acquired in September 2022, which owns a large factory and free-from facility in
Change of Name
Application has been made for the 5,000,000 new Ordinary Shares, which will rank pari passu with the existing Ordinary Shares in issue, to be admitted to trading on the Aquis Stock Exchange Growth Market ("Admission"). Admission is expected to occur at 8:00 a.m. on, or around, 20 December 2022.
Total Voting Rights
Following the issue of the 5,000,000 new ordinary shares, the issued share capital of the Company will be 130,571,687 Ordinary Shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interests in, or changes to their interests in, the Company under the FCA's Disclosure and Transparency Rules.
Scott Livingston, the Founder and CEO of S-Ventures comments:
"We are delighted to add the Juvela business to our platform. We welcome Hero Group as new shareholders and are excited about the opportunity this acquisition brings to drive substantial growth and value for all our shareholders. It has been a pleasure working with Hero on this transaction."
Rob Versloot, CEO of the Hero Group, comments:
"We are very pleased to have found an ideal home where Juvela can grow to its full potential alongside other similar companies. The divestment is part of our company's long-term strategy and supports the Hero Group's focus on its core categories of Baby and Toddler Food and Snacks, Healthy Snacks, and Natural Spreads."
For further information, please contact:
Robert Hewitt (Chief Financial Officer)
Scott Livingston (Chief Executive Officer)
+44 (0) 1932 400 224
AQSE Corporate Adviser and Broker:
VSA Capital Limited
Andrew Raca - Corporate Finance
Andrew Monk - Corporate Broking
+44 (0) 20 3005 5000
IFC Advisory (Financial PR)
+44 (0) 20 3934 6630