(Finance) – B&C Speakers announces that it has defined a further important step in its development and internationalization strategy, acquiring 100% of the share capital of Eminence Speaker, US company controlled by Eminence Holdings LLC.
B&C Speakers has also committed to taken over by Eminence Dongguan Enterprise Co., also under the control of Eminence
Holdings, one significant part of its assets through a NewCo (whose establishment represents an essential condition for the implementation of the agreement) wholly owned by B&C.
The constitution of NewCowith the consequent purchase of assets represents an operation aimed at acquire the production factors considered strategic to consolidate and develop, also through additional investments, the turnover achieved on the Asian market by the Eminence brand.
Eminence Speaker LLC has a staff of approximately 90 resources and is active in the design and manufacturing of electro-acoustic transducers for professional use intended for the musical instrument market (MI-Musical Instruments), alarm systems and after-market car audio.
The agreed fee for the two operations described above it is equal to 4.495 million dollars and was financed by B&C Speakers using its own financial resources. In particular, the corresponding inclusive of the Net Financial Position already recognized to Eminence Holdings LLC for the entire share capital of Eminence Speaker is 3,551 million dollars, while the consideration for the acquisition of part of the assets of Eminence Dongguan Enterprise Co. is equal to 943 thousand dollars, and will be recognized by B&C Speakers China (NewCo) as soon as the establishment process is completed.
(Photo: Photo by Cytonn Photography on Unsplash)