egetæpper a/s acquires the majority of Hammer Tæpper A/S

| Source: Egetæpper a/s


egetæpper a/s acquires 51% of the shares in Hammer Tæpper A/S as of 1st October 2014. The company is owned by second generation, Tom Møller Jørgensen, who will continue as director and minority shareholder of the company.

Hammer Tæpper A/S, originally founded in 1948, develops, manufactures and sells textile floorings in both wool and synthetic yarns for both the consumer and contract markets.

On the contract market the primary segments are 4 to 5-star hotels as well as the cruise line industry. Tom Møller Jørgensen wishes to start a generational handover and the acquisition is to be seen as part of this which will also contribute to strengthening egetæpper’s position in the aforementioned segments.

Hammer Tæpper A/S continues as an independent company with focus on the products, markets and clients which have been the company’s business foundation thoughout the years.

In the financial year 2012/13 Hammer Tæpper A/S showed a result of 9.2 DKK million before taxation, capital and reserves of 76.2 DKK million and an equity ratio of 77%.

egetæpper a/s acquires 51% of the shares at book value, plus a goodwill amount of 20 DKK million for the acquired shares. The price for the shares, which is expected to amount to approx 50 DKK million, will be paid in cash. The remaining 49% of the company’s shares will be acquired by egetæpper a/s at book value no later than 1st October 2021.

For 2014/15 (1st October 2014 – 30th April 2015 – 7 months in total) Hammer Tæpper  A/S expects a surplus of 7 DKK million before taxation. After adjustment of minority interests the group result is expected to be affected positively by 5 DKK million before taxation. Expectations to the total group result before taxation for 2014/15 will be published in our annual report notification on 26th June 2014. At present there are 55 employees at Hammer Tæpper A/S.

Questions in connection with this notification may be directed to the directors John Vestergaard or Svend Aage Færch Nielsen.


Yours faithfully,

egetæpper a/s


Ebbe M. Iversen