Stockholm, 2011-12-22 08:30 CET (GLOBE NEWSWIRE) -- Starting in 2004 Empire successfully built a sales and marketing organisation that reached outstanding household penetration, and followed up with strong results in new markets such as Finland and Denmark. The parties have determined that SST is best fitted for managing the future success of the SodaStream product line in the Nordic and Baltic markets. The majority of Empire’s employees will be offered a transfer to SST. During a transition period the companies will cooperate closely in order to insure uninterrupted and prompt service to the customers.
"Empire AB did a great job building a sizeable SodaStream business in this region, particularly Sweden where we enjoy 25% household penetration and own more than 10% of the entire off-premise carbonated beverage category,” stated Daniel Birnbaum, CEO of SodaStream. “We are excited to assume distribution in this large and successful market and look forward to capturing higher margins on sales of our soda makers and portfolio of consumable products. Under our management, we believe there are significant opportunities to further expand our presence throughout this region, and plan to execute marketing campaigns around existing and new product offerings to increase our large and growing user base.”
Empire will use its increased flexibility and financial strength to leverage its position as the leading independent sales and distribution company in the Nordic region by growing existing brands and adding new ones to the portfolio.
“This is a realistic deal that benefits both parties and I am optimistic for the future of the new Empire under the management of CEO Per Björkman,” says Ian Wachtmeister, Chairman of Empire AB. “The deal adds cash of 65 MSEK, which allows Empire to decrease its external debt and strengthens the company’s remaining business. This will allow for an expansion of brands and new agencies.”
SodaStream is listed on Nasdaq (SODA) and Empire on Nasdaq OMX First North (EMP B).
About Empire
Empire is a company that creates, acquires and markets home and household products for the Scandinavian consumer market. The range includes carbonating machines, household products and hair care products, including brands C3, BaByliss, Cuisinart and Salter. Since 1997, Empire marketed percolators, coffee makers and a host of other electrical products for home use under the brand name C3. The company is listed on the Nasdaq OMX First North with Remium AB as Certified Adviser. Please visit the company’s website on www.empire.se.
About SodaStream
SodaStream manufactures beverage carbonation systems, which enable consumers to easily transform ordinary tap water instantly into carbonated soft drinks and sparkling water. Soda makers offer a highly differentiated and innovative solution to consumers of bottled and canned carbonated soft drinks and sparkling water. Our products are environmentally friendly, cost effective, promote health and wellness, and are customizable and fun to use. In addition, our products offer convenience by eliminating the need to carry bottles home from the supermarket, to store bottles at home or to regularly dispose of empty bottles. Our products are available at more than 50,000 retail stores in 42 countries around the world. For more information on SodaStream, please visit the company's website: www.sodastream.com.
SodaStream Commercial Contact:
Leon Paull, CEO SodaStream Nordics AB
+46 765 470 492
SodaStream Investor and Media Contact:
Yonah Lloyd, Executive Director, Corporate Development and Communication
+972-3-976-2462, yonahl@sodastream.com
Empire contact:
Per Björkman, CEO Empire AB (publ), Empire Sweden AB
+46-765-470511, per.bjorkman@empire.se
Ian Wachtmeister, Chairman of the Board of Empire AB (publ)
+ 46-702-411 002, ian@empire.se
