Giglio Group concludes major acquisition at strategic level The Group has signed a binding agreement to purchase one hundred percent of the share capital of Salotto Brera – Duty Free s.r.l.

10 March 2022

Giglio Group S.p.A. (Ticker GG.MI) (“Giglio Group” or the “Company”) – an e-commerce company listed on the MTA-STAR market of the Italian Stock Exchange, has signed a binding agreement to purchase one hundred percent of the share capital of Salotto Brera – Duty Free s.r.l. (“SBDF”), a company that operates nationally and internationally in the distribution and marketing of products in the fashion and food sector, whose share capital is wholly owned by Ms. Stefania Mariani.

The transaction will enable the Group to develop, expand and strengthen the “Distribution” division, which carries out, among other activities, the marketing of fashion and food products, enabling it to improve commercial synergies with customers and suppliers, increasing the number of brands with which the Group has relationships, and create new business opportunities, especially in the territories in which SBDF operates, strengthening, in particular, the Middle East. In additionthe acquisition will enable the omnichannel services developed by the Group to be offered in new channels, ensuring that customers can choose from more sales solutions.

Stefania Mariani will join the team of the Group’s “Distribution” division, bringing her expertise and experience of more than 20 years in the international distribution of fashion and food products and the luxury world.

The countervalue of the transaction has been agreed at €1,175,000 inclusive of a positive NFP of over €450,000, plus an Earn Out worth a total of €200,000 that will be determined on the basis of the EBITDA achieved by the Group over the next two fiscal years.

Alessandro Giglio, Presidente di Giglio Group, ha commentato: “We are delighted with this new and important acquisition, which is extremely relevant at the strategic level, and which will strengthen our commercial capacity and increase our competitiveness in the fashion sector, as well as increase turnover and business volume. This transaction is finalized at the beginning of 2021, the end of 2020, a year that has seen major changes that have enabled great efficiency gains for the Company, record sales in the first nine months, entry into new sectors and refinement in the use of resources.”

SDBF reported estimated FY2020 revenues of more than 5.1 million euros and an estimated FY2020 gross operating margin (EBITDA) of about 300,000 euros.

Stefania Mariani, Founder & CEO of SBDF, expresses her great satisfaction by stating the following: “In Giglio Group I have found a management team that believes in my dream and the results brought to date. I trust that we can do a great job together thanks to the digital and technological skills present in Giglio Group in order to successfully develop the needs for change imposed by recent changes.”