Better Collective improves Swedish position with Ribacka acquisition
Better Collective has completed the acquisition of all shares in Ribacka Group AB, for a fee of €30m ($34.2m).
Half of the fee will be paid in cash at the closing of the deal, €6m will be paid in May 2019 in either cash or ordinary shares in Better Collective and the remaining €9m will be paid in 2020 pending certain agreed performance criteria.
Ribacka expects to generate more than €6m in 2018, with operating earnings (EBITA) of more than €5m.
Jesper Søgaard, CEO of Better Collective, said: “We are truly excited about expanding our position in the Swedish market ahead of the coming regulation. With a strong network of brands in the Swedish market, including speltips.se, Ribacka Group is a great fit for Better Collective.”
Jesper Ribacka, Founder and CEO of Ribacka Group, said: “On behalf of myself and my co-founder of Ribacka Group, I am happy to announce our acquisition by Better Collective. Since 2012, we have worked very hard to build strong brands in the Swedish market and, most importantly, a strong team to help us become a success.”
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
