Giving Europe BV Acquires Mid Ocean Brands BV
According to a statement issued by the Impression Europe, the shareholders of Giving Europe reached an agreement with Mid Ocean Brands' management team as well as the company's investors, Avedon Capital Partners and ABN AMRO. Avedon Capital, a private equity group, has been an investor in Mid Ocean Brands since 2007.
"The new investors group is aware of the challenges in the market. But they are convinced that everybody will benefit by such a large player in the market being safeguarded," Impression Europe said in a statement. "Eventually this takeover will lead to a stronger purchasing position for both companies and they will also benefit from each other's expertise and experience."
Following the completion of the acquisition, both Mid Ocean Brands and Giving Europe will continue to operate independently under their own names. The deal is expected to close in May.
For more information, visit www.impressioneurope.co.uk.