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bhg . BHG Group to acquire German e - commerce company AH - Trading 2 SEPTEMBER 2021 , 5:30 P.M. CEST BHG Group AB ( publ ) ( " BHG " ) has today entered into an agreement to acquire 80 % of the shares in AH Trading GmbH ( " AH - Trading " ) . AH - Trading is one of Germany's leading e - commerce companies in garden furniture in the mid and premium segments . All of the company's approximately 10,000 products are sold online , around half of which are proprietary brands . With this acquisition , BHG broadens its Nordic offering by adding a complementary range of products to the existing mix , thereby also creating synergies across sales and purchasing . The acquisition further establishes BHG's presence and operations in Germany which will provide a foundation for continued growth in the strategically important German market . The initial valuation for 100 % of the shares , amounts to approximately SEK 490 million ( EUR 48 million ) , and BHG will pay about SEK 367 million ( EUR 36 million ) for 80 % of the shares , using cash and cash equivalents . In addition , the Group will pay a performance - linked cash earn - out based on EBITDA for 2021 and 2022 , of up to approximately SEK 122 million ( EUR 12 million ) . The consideration corresponds to an acquisition multiple of approximately 0.7x sales and 7.2x EV / EBITDA based on the anticipated financial performance for 2021. Including the full earn - out , the purchase price corresponds to an acquisition multiple of approximately 9.0x EV / EBITDA . AH - Trading was formed in 2004 and has an established track record of delivering strong , profitable organic growth . During the 2020 financial year , sales doubled vs. 2019 to SEK 459 million and adjusted EBITDA margin was 8 % . The company's sales growth for 2021 is expected to be just over 46 % , corresponding to 2021 sales of slightly over SEK 670 million , with EBITDA of approximately SEK 68 million . BHG's President and CEO , Adam Schatz , comments : " The acquisition of AH - Trading is strategically important for us , not least because BHG already has a customer base in Germany , where we will now gain a local organisation and presence and have the opportunity to take the next step in the European market . The company's founders , Mr and Mrs Holtermann - who will continue to operate the business - have successfully created a leading online player with a clear customer focus , a strong brand and a relevant product portfolio that we will be able to introduce in all our markets . Our product range also complements the portfolio that AH - Trading has created . Moreover , AH - Trading is an excellent platform for expansion in the large German market and , eventually , into other nearby countries . We look forward to taking the next step in the company's development together with CEO Aron Holtermann and COO Birgit Holtermann , within the framework of BHG . " AH - Trading's products are sold via the online platforms Gartenmoebel.de and Loungedreams.com , two of the most prominent online channels in Germany for garden and outdoor furniture . The company's warehouse and processing centre are situated in Xanten and Rheinberg , near Düsseldorf , and the head office is located at the processing centre in Xanten . The company has around 120 employees . Aron Holtermann , CEO of AH - Trading , comments : " We regard the transition to becoming part of BHG as a natural step toward seriously entering the next stage of the company's development , both through continued growth in Germany and by utilising BHG's channels in the Nordic region and Eastern Europe . We look forward to continuing our successful development together with BHG and look forward to broaden our expertise , thereby creating the scope for sharing knowledge and new initiatives with the aim to accerlerate our strong growth even further . " CEO Aron Holtermann and the rest of the management team at AH - Trading will continue to lead the company's operations , which will be consolidated with BHG's Home Furnishing segment . AH - Trading is being sold by Aron and Birgit Holtermann ( 80 % ownership ) and investor Fabian Simon ( 20 % ownership ) . VIDEO CONFERENCE IN CONNECTION WITH THE ACQUISITION OF AH - TRADING Adam Schatz , President and CEO , and Jesper Flemme , CFO , will hold a video conference today , 2 September 2021 , at 6:30 p.m. CEST in connection with the acquisition of AH - Trading . The video conference will be held in English . To participate , please visit https://tv.streamfabriken.com/bhg-press-conference-september-2021 . The presentation will also be available at https://www.wearebhg.com/investors/presentations/ .