DGAP-Adhoc: windeln.de SE: windeln.de sells Feedo to Czech distributor of baby & toddler products ags 92

windeln.de sells Feedo to Czech distributor of baby & toddler products ags 92

Munich, Germany, July 20, 2018: windeln.de SE ("windeln.de" or "Group") has signed an agreement regarding the sale of its Eastern European subsidiary Feedo Sp. z o.o. and its subsidiary ("Feedo") to Czech wholesaler and retailer of baby and toddler products ags 92 s.r.o. ("ags") today. The sale of Feedo is part of windeln.de's extensive restructuring program to increase efficiency and profitability announced in February 2018, focusing the Group's activities on core business. Through the divestiture of Feedo, windeln.de benefits from the deconsolidation of a loss-making subsidiary (Feedo's adjusted EBIT in 2017 amounted to EUR -3.4 million), a headcount reduction by 74 active full-time equivalents and from a uniform, fully integrated technical infrastructure post divestiture. The transaction is expected to close in the course of 2018.
Contact:
Corporate Communications
Sophia Kursawe
Phone: +49 (89) 41 61 71 52 65
Email: presse@windeln.de