Smartphoto Group NV acquired Frucon² Nv from Benny Sintobin for 4.6 million.
Smartphoto Group NV (ENXTBR:SMAR) acquired Frucon² Nv from Benny Sintobin for 4.6 million on December 2, 2021. Consideration is 4.15 million in cash and 0.50 million in treasury shares of smartphoto group. The turnover of Frucon for the year ended December 31, 2020 was approximately 12 million. Both the management and all employees of Frucon 2 will become part of smartphoto group, but they remain to operate as a separate division under their own brands Gift.be, GiftsforEurope.com and Nayan. Smartphoto expects Frucon² to make a positive contribution to the group results as early as 2022.
Smartphoto Group NV (ENXTBR:SMAR) completed the acquisition of Frucon² Nv from Benny Sintobin on December 2, 2021.