Unedited press release follows:
YuuZoo Buys Exclusive Option to Acquire the Holding Company of Cinram, One of Europe’s Largest Logistics & Distribution Companies, Serving Multiple Top Brands such as Amazon, Paramount, Universal Studios, Warner Bros., 20th Century Fox, Sony, Sky, Zalando and Asos
• The acquisition would give YuuZoo complete end-to-end e-Commerce capabilities in all major European markets including the much covered “Last Mile” delivery capabilities
• As one of Europe’s top companies in logistics, Cinram in 2016 posted revenues of SGD 261 million (EUR 173 million) with a 7.4 million SGD (EUR 4.9 million) EBITDA
Singapore, New York and London 22nd March 2017: Singapore Exchange listed YuuZoo Corporation Limited (“YuuZoo” SGX:AFC) today announced that it has acquired an exclusive option to buy the holding company of Cinram Europe, one of the biggest logistics & distribution companies in Europe, from US-based 46 State Street LLC and an affiliate, for a consideration of 7.5 million YuuZoo shares. The acquisition is subject to satisfactory due diligence by YuuZoo Corp, and expires on June 30th 2017.
Cinram, with its European head office located in Holland and main operational centres in UK, Germany and France has facilities across Europe, and a well-established distribution network which serves thousands of customers with thousands of shipments and parcels daily.
Cinram’s European distribution footprint totals more than 1 million square feet across five Distribution Centres from which the Company ships over 4 million units a day, directly into retail and to consumer.
In addition to managing outbound shipments and storage, Cinram’s engineered returns sortation system cuts lead times in reverse logistics and in making clients stock re-available for sale to further boost the company’s fast-growing e-Commerce services. Adding these capabilities to YuuZoo’s existing e-Commerce operations has the capacity to make YuuZoo a premier one-stop e-Commerce player in Europe.
With strategic footprints across Europe and UK, as well as, a human resource of over 1,000 employees, Cinram brings on-board its over 40 years of experience in logistics solutions.
Its current client list includes some of the world’s best-known entertainment and e-commerce brands, such as Amazon, Paramount, Universal Studios, Warner Bros., 20th Century Fox, Sony, Sky, Zalando and Asos.
Cinram is the recipient of the Supply Chain Excellent Award in 2015; a holder of various site certifications and qualifications including ISO 9001.
Thomas Zilliacus, Executive Chairman of YuuZoo Corporation, stated “YuuZoo aims to build shareholder value through an aggressive expansion in geographies, products and verticals. Social e-commerce, disruptive payment services and games are key pillars to our growth. Adding Cinram’s well-established and innovative Europe-wide logistics and distribution network, Cinram’s top-range client network and Cinram’s superior knowhow to YuuZoo’s vertically integrated social e-commerce operations has the capacity to expand YuuZoo’s strong footprint in Asia and Africa to Europe, where e-commerce ARPU is the highest in the world, and in one step make YuuZoo a premier one-stop e-Commerce player in Europe”, he concluded.
Edward Tobin, Director of 46 State Street LLC, the owner of Cinram’s holding company, stated “We are very excited about the opportunities YuuZoo can bring to Cinram. YuuZoo has a long range of unique products and solutions, such as its vertically integrated social e-commerce platform, its patented advertising solutions, its disruptive payment services and its franchise business concept, that in a perfect way complement Cinram’s strong Europe-wide distribution and logistics services.” Mr. Tobin added. “As various research reports have stated, we believe YuuZoo’s shares are significantly undervalued, and are optimistic the shares we have been paid in for this exclusive option will increase in value as the market recognizes the strengths of Yuuzoo” he concluded.
Headquartered in Singapore and listed on the SGX mainboard (SGX: AFC), YuuZoo has built a partly patented mobile and online technology platform on which several in-house developed products in a unique, and for each market fully localized manner, offer targeted social networking, e-commerce, gaming and payments to hundreds of millions of consumers across all continents.
With franchisees and partners covering 69 countries with more than 4 billion consumers, YuuZoo reaches a huge global audience through smartphones, computers and TV sets.
To see the YuuZoo platform, log-in to: http://www.yuuzoo.com.
For more information about the company, please log on to: http://www.yuucorp.com.
Cinram is one of Europe’s largest providers of supply chain solutions to some of the most exciting companies and brands within the FMCG, home entertainment, e-commerce and retail industries. For over 40 years the company has worked with many of the world’s leading entertainment companies including Universal Pictures, Sky, UCA, Abbey Home Media, Paramount, Warner Bros., 20th Century Fox and Sony, to meet their needs for fast, flexible, profitable supply chain solutions. Cinram’s expansion into e-commerce has added new clients such as leading e-commerce companies Amazon, Asos and Zalando.
For more information visit Cinram’s website, visit http://www.cinram.eu/