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Cirio advises CaMa Gruppen in connection with its reverse takeover of Online Brands

2021.07.20

Cirio has advised CaMa Gruppen AB and its shareholders in connection with its reverse takeover of Online Brands Nordic AB, listed on Nasdaq First North Growth Market, resulting in the shareholders of CaMa Gruppen holding approximately 90 per cent of the shares in Online Brands.

Online Brands and the shareholders in CaMa Gruppen entered into an agreement on 8 June 2021, pursuant to which Online Brands was to acquire all shares in CaMa Gruppen by way of a share issue in kind. An extraordinary general meeting in Online Brands was held on Monday 19 July 2021 which approved the share issue in kind and the reverse takeover. The shares were subsequently issued on the same day. Following the transaction, the shareholders in CaMa Gruppen hold approximately 90 per cent of the shares in Online Brands and the remaining shareholders in Online Brands hold approximately 10 per cent of the shares in Online Brands. Nasdaq Stockholm has given preliminary approval to the continued listing of Online Brands after the completion of the transaction and a company description was published on 15 July 2021.

CaMa Gruppen is a fast-growing e-commerce company which primarily sells hats and carpets. The company was founded in 2008 and is based in Sweden. CaMa Gruppen has since the start had a pan-European focus and is active in twelve countries in the European market. CaMa Gruppen conducts its sales exclusively online through the company's sales channels Trendcarpet and Hatshop.

Online Brands is a jewellery retailer active in the Nordic market. Online Brands initiated company reorganization proceedings in March 2020 during which Online Brands’ management, board and main shareholders worked intensively with the court-designated reorganizer to identify and implement cost saving measures. During the reorganization period, a new strategy was developed to enable Online Brands to focus on developing its e-commerce business.

Cirio advised CaMa Gruppen with a team headed by Johan Hessius (M&A) and Maria Arnoldsson (Capital Markets and Public M&A), together with Johanna Permatz, Tim Johansson, Fredrik Eliasson, and Christoffer Isaksson.

For more information, please contact:

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Johan Hessius
Partner
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+46 76 617 08 84
Maria Arnoldsson
Partner
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+46 76 617 09 98
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