CEWE signs an agreement to acquire "WhiteWall"

Oldenburg, 30 April 2019. CEWE Stiftung & Co. KGaA (SDAX, ISIN: DE 0005403901, "CEWE") signed an agreement today to acquire the photofinishing business and the brand of wall art specialist "WhiteWall".
With Avenso GmbH, CEWE signed an Acquisition and Transfer Agreement covering all WhiteWall Media GmbH company shares. The "LUMAS" business segment, also operated by Avenso GmbH, is not being acquired. The purchase price will be calculated on the basis of an enterprise value of 30 million euros on the date of execution of the transaction. The transaction values the enterprise at around 0.9 times the turnover achieved on 2018 by the part of the enterprise to be taken over. For the current financial year, the CEWE Board of Management expects the takeover - including the purchase price allocation and the transaction costs - to initially still have a negative impact on the EBIT in the amount of around one million euros. Completion of the transaction also depends on approval by the relevant Monopoly and Merger commissions.
WhiteWall conducts successful operations mainly in Germany, other European countries and the USA. CEWE expects the acquisition to have a sustained positive effect on the value of the company as a whole.

Notifying party: Axel Weber, Head of Investor Relations, Planning & Reporting