Relais Group Oyj (HLSE:RELAIS) entered into an purchase agreement to acquire Strands Group AB from Jon Strand for approximately SEK 210 million on December 14, 2020. Jon Strand is the founder of Strands Group AB. As per the agreement, Relais Group Oyj will issue 0.38 million shares to pay SEK 40.7 million of the purchase price and rest of the purchase price will be paid by cash. The purchase agreement also includes the sellers' right to an additional purchase price of a maximum of SEK 25 million if the financial targets agreed by the parties are reached by the end of 2022. For the financial year, December 31, 2019, Strands Group AB reported net sales of SEK 144.7 million and EBITDA of SEK 19.3 million. The transaction is subject to customary closing condition and is expected to be completed by January 5, 2021. Relais Group Oyj (HLSE:RELAIS) completed the acquisition of Strands Group AB from Jon Strand on January 11, 2021. Upon Closing, Jon Strand will have an advisory role for the Group in the areas of branding and marketing.