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YuuZoo to acquire Cinram Europe's holding company for 7.5m shares
SINGAPORE-LISTED YuuZoo Corporation has acquired an exclusive option to buy the holding company of Cinram Europe for 7.5 million YuuZoo shares.
Cinram is one of the biggest logistics and distribution companies in Europe and the acquisition is from US-based 46 State Street LLC and an affiliate.
The acquisition is subject to satisfactory due diligence by YuuZoo, and expires on June 30 this year, YuuZoo said in a Singapore Exchange filing on Wednesday.
Cinram, which has its European head office in Holland and main operational centres in the UK, Germany and France, has facilities across Europe.
Its clients include Amazon, Paramount, Universal Studios, Warner Bros, 20th Century Fox, Sony, Sky, Zalando and Asos.
Cinram's European distribution footprint totals more than one million square feet across five distribution centres, from which the company ships over four million units a day directly into retail and to consumers.
YuuZoo said the acquisition would add to its e-commerce operations, making it a premier one-stop e-commerce player in Europe.