Stockholm, Dec. 8(ChinaEuropeDialogue)–THiS Less-is-more Group AB(THiS Group) acquired all shares in the e-commerce platform Karuu AB (the company) and thereby strengthened the link for export between the Nordic region and global end consumers.
The purchase price amounts to SEK 48 million and will be paid with newly issued shares in THiS Group.
The company offers marketing of Nordic companies as well as sales and delivery of their products/services directly to the end consumer via the Company’s B2C e-commerce platform. The company is estimated to have sales of SEK 18 million this year. For the year 2022 and 2023, sales will be estimated at SEK 35 million and SEK 110 million respectively, together with a gross margin of approximately 49%.
“Today is a special day! THiS Group formally acquired Karuu AB and we are now in a joint alliance. I look forward to developing THiS Group with joint efforts. This alliance is a strategic decision which is based on resource sharing and skills enhancement and will benefit us by being able to respond to the complex and changing transformation of health and innovation. Our integrated resources improve our market position and our competitive advantage. We are behind THiS Group’s corporate governance, which motivates each competent partner’s performance and productivity. We are a small company with small capacity, but together with THiS Group we are large enough to meet the enormous need in health and innovation we see in the future, “says John Jiang, CEO of Karuu AB.
“Karuu is an innovative e-commerce company with cross-border payment and transaction solutions. We look forward to working with Karuu, not only because of their revenue and profit generation capability, but also because of their understanding of our corporate governance, which is based on shared value and skills-driven capital. Karuu has great market power and a well-functioning cross-border e-commerce experience, which is incredibly valuable for THiS Group’s business model,” says Lucy Dahlgren, CEO of THiS Group AB.
“Karuu has also a cooperation agreement with the Swedish Table Tennis Association. Karuu’s brand appeared on the Table Tennis Association’s players during the World Cup in table tennis a few weeks ago-when Sweden won a gold medal in doubles and silver in singles. Table tennis is a national sport in China. We are very happy about our collaboration and that Jorgen Persson, who is now also part of THiS Group,” concludes Lucy Dahlgren, CEO of THiS Group AB
Through the acquisition of the Company, the companies that are part of THiS Group’s alliance can quickly and easily reach out with their products to different parts of the world. The company lays the foundation for the companies in the group to have the opportunity to reach out quickly with their products in Asia and in other parts of the world.
THiS Less-is-more Group AB is building a company group focusing on health and healthy lifestyle. These companies share the need for centralized digitization, distribution and commercialization of products and services, and through sustainable business will contribute to reducing the incidence of obesity, type 2 diabetes, cardiovascular disease and other public diseases.