Allcore acquires the majority of Re Business for 1.4 million euros

Allcore acquires the majority of Re Business for 14 million

(Finance) – Allcore (formerly Soluzione Tasse), a company active in business consultancy for SMEs and listed on Euronext Growth Milan, has signed a investment contract to acquire a majority stake in the Re Business company. In particular, the subsidiary Soluzione Meeting will make the investment by subscribing to a share capital increase of Re Business, reserved for Soluzione Meeting, upon full release of which the latter will hold a stake equal to 51.22% of the share capital. L’amount is equal to 1,386,000 euros and the operation will be financed through its own resources.

Re Business is an SME founded by Andrea Antoniucci which operates in real estate sector of the so-called “instant buying”, through the proprietary portal dedicated to this purpose called “”. Re Business purchases properties for residential use in the municipality of Rome through instant offers, which allow the acquisition of properties within 30 days of accepting the offers, and then reselling them after possibly renovating the premises.

As of 31 December 2022 Re Business highlighted a production value of 2.35 million euros, a EBITDA of 386 thousand euros, corresponding to approximately 16% of the value of production, and a Net income equal to 260 thousand euros. As of 31 December 2022, the company also had a Net Financial Position of 502 thousand euros.

“I am happy to announce this acquisition, another step in our strategy to expand the Allcore ecosystem, which puts the SME entrepreneur at the center of its universe – he commented Gianluca Massini Rosatipresident and CEO of Allcore – What may seem like a diversification is actually a way to strengthen our club deal activity by allowing our entrepreneur clients to find a partner in Allcore also to invest their financial resources, connecting every day more to the Group’s initiatives”.