NICK SCALI LIMITED Nick Scali Limited (ASX:NCK) entered into an agreement to acquire Anglia Home Furnishings Limited for £3.5 million on April 24, 2024. Under the Acquisition, Nick Scali will acquire Fabb Furniture for a consideration of £2.00 and all of the secured debt owed by Fabb furniture for £3.5 million Nick Scali intends to pay £0.5 million to exercise the option to exit the existing distribution centre arrangement and also provide a net working capital injection of up to £6.0 million. The acquisition is funded through placement raise of £26.178 million (AUD 50 million).
The Acquisition is subject to limited customary conditions, and is expected to complete in mid-May. Andrew Wingfield, Vikki McKay, John Verwey, Stephen Pevsner and Elisabeth Baltay of Proskauer advised Nick Scali Limited on the acquisition of the entire issued share capital of Anglia Home Furnishings Limited.
