Carnegie acted as exclusive financial adviser to Matas
Carnegie acted as exclusive financial adviser to Matas in the acquisition of Firtal Group.
Firtal Group is a leading digital retailer of own branded products and third-party branded products, primarily within health & wellbeing.
Firtal Group operates 9 different niche webshops. The key webshop is Helsebixen.dk, a well-known Danish player within the online market for health & wellbeing.
With the acquisition, Matas makes progress on several strategic targets, including digital market leadership, gaining a share of the green market and adding a growth platform. In relation to the transaction CEO Gregers Wedell-Wedellsborg says:
“Right from our very first conversation with Firtal Group’s founders, we shared a vision to create a new kind of power player within the health and wellbeing space: A network of born-digital brands serving sharply defined target groups. Together, Firtal Group and Matas can make that vision come true faster and with greater impact than each of us on our own.”
Matas has communicated expected Firtal Group 2018 revenue in excess of DKK 140 million with an EBITDA margin of more than 11%. Revenue for the first half of 2018 is in line with forecast.