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Springs Global concludes the transaction concerning its North American operations
São Paulo, March 15, 2019 - Springs Global Participações S.A. (Springs Global, B3: SGPS3) informs that it has concluded today the transaction agreed with Keeco, an American home fashion company, to combine its North American operations, which was announced to the market on December 28th, 2018, after the fulfillment of all precedent conditions.
As part of this transaction, Springs Global will become a shareholder of a company with leading brands and a vast product portfolio in the curtain, utility bedding, and decorative bedding markets, as well as a diversified customer portfolio, including the major companies in the North American traditional ("bricks and mortar") and e-commerce retail market.
This business combination will strengthen Springs Global’s participation in the North American market, through a significant equity ownership in a company with an extensive product portfolio, improved competitiveness, growth potential, and better profitability due to synergies. At the same time, it will enable Springs Global’s management to focus on its South American business, with a more robust financial structure.