Restamax Plc
STOCK EXCHANGE RELEASE 24 April 2018 at 8:00 am
RESTAMAX SELLS ITS HOLDING IN SUPERPARK - FOCUSES ON ITS CORE BUSINESS
Restaurant company Restamax Plc sells its entire 30.17 per cent holding in SuperPark Oy, which operates indoor activity parks. The selling price of the shares is about MEUR 6.5. From the transaction, the company records a sales profit of some MEUR 3.4. The deal enters into force on 27 April 2018.
Restamax acquired its holding in SuperPark Oy in a private placing in December 2015, when Restamax bought 19.02 per cent of the company's shares. In May 2017, Restamax increased its holding in SuperPark to 30.17 per cent.
"In the future we want to focus more strongly on our core business, and this deal strongly supports that goal. Our business with SuperPark has been successful, and the deal brings a significant addition to our result of the 2018 financial period, and supports the financing of our growth," says Restamax Chairman of the Board Timo Laine.
"Despite the short duration, our cooperation was very rewarding and profitable. It has been my pleasure to work in SuperPark's Board of Directors since October 2017. The future looks very bright for both companies in Finland and abroad. Our cooperation will continue such that Smile Henkilöstöpalvelut will continue supplying hired labour to SuperPark like before," says Restamax CEO Juha Helminen.
Both companies aim to grow internationally. At the beginning of April 2018, Restamax expanded its business by buying 11 restaurants operating under the Cock's & Cows and The Bird concepts in Copenhagen. Internationalisation is also supported by the joining of forces with Royal Ravintolat, which was announced by the company in April, creating one of the biggest restaurant groups in the Nordic countries. In December 2017, SuperPark opened an indoor activity park in Hong Kong, and the company also aims to open new locations in Asia and Europe.
Additional information:
Timo Laine, Chairman of the Board of Directors, Restamax Plc, tel. +358 400 626 064
Juha Helminen, CEO, Restamax Plc, tel. +358 40 535 5560
Jarno Suominen, CFO, Restamax Plc, tel. +358 40 721 5655
Distribution:
NASDAQ Helsinki
Major media
www.restamax.fi
Restamax Plc is a Finnish group established in 1996, specialising in restaurant services and labour hire. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include more than 130 restaurants, nightclubs and entertainment centres all over Finland. Well-known restaurant concepts of the Group include Stefan's Steakhouse, Viihdemaailma Ilona, Classic American Diner and Colorado Bar & Grill. In 2017, Restamax Plc's turnover was MEUR 185.9 and EBITDA MEUR 22.4. Depending on the season, the Group employs approximately 2,250 people converted into full-time workers. Restamax's subsidiary Smile Henkilöstöpalvelut Oy employs approximately 9,000 people per month.
Restamax company website: www.restamax.fi, Restamax consumer website: www.ravintola.fi, Smile Henkilöstöpalvelut: www.smilepalvelut.fi