(Alliance News) - Talea Group Spa announced Thursday that its board of directors has approved the acquisition of Bewow Srl's business unit - consisting of the Gooimp and Mood brands - and the MBO Plan 2023 short-term cash incentive plan.

The transaction involves the sale of Bewow's business to Talea against payment of a consideration - which will be made using equity - of up to EUR1.9 million.

Bewow is a company that carries out retail activities, including via the Internet, of any type of product for the care and well-being of people, including in the home.

The business consists of, inter alia, the Gooimp brand, a brand operating in the commercialization of hygiene and personal care products, and the Modd Concept Store brand, a brand operating in the Italian furniture & home living sector through the online site https://www.moodconceptstore.com, a physical store and projects related to special supplies.

In 2022 Mood generated revenues of about EUR800,000 and the website registers more than 5,000 active registered users, the company points out in a note.

"The acquisition is part of the group's new development strategy, which, consistent with the 2023 - 2025 Business Plan and the rebranding to Talea Group, plans to continue on the path of growth through acquisitions of new realities in cross-border markets, with the aim of expanding the product offering in the area of goods and services for personal well-being," the statement reads.

Talea Group trades in the green by 2.5 percent at EUR9.10 per share.

By Chiara Bruschi, Alliance News reporter

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