ILBE (Iervolino and Lady Bacardi Entertainment) strengthens in the fast growing segment of celebrity management, communication & marketing. The company active in the production of film and television content has announced the signing of an agreement for the acquisition of 60% of SoBe Sport, a reference point for communication and marketing in the sports field, for professional athletes and coaches.
In detail, Sobe Sport offers sponsorship and management of image rights, brand identity, social media and marketing, web design, communication and press office services; this is a rapidly growing reality which for the year 2021 expects to achieve total revenues of approximately 2 million euros (+ 58% compared to the previous year and + 39% compared to 2019) and an Ebitda of approximately 380 thousand ( + 78% compared to the previous year and + 26% compared to 2019). The net working capital expected at the end of 2021 is equal to approximately 410 thousand euros and the net financial position is positive for approximately 50 thousand. With the acquisition of SoBe Sport, a note specifies, ILBE will be able to expand its range of services in the field of celebrity management and consulting in ADV, communication & marketing.
Under the terms of the agreement, a cash consideration of 658,000 euros is envisaged, for a representative share of 31.38% of the share capital of SOBE Sport, as well as the assignment to the seller (the founder of the company Gian Luca Voulaz) of ordinary shares of ILBE for a total value, including the share premium, of € 600,000 for a representative share of 28.62% of the share capital of SOBE Sport, following a capital increase intended. “The number of these shares will be determined with reference to the official stock market price of the period prior to the transaction. The acquisition of 60% of SoBe Sport must be completed within the first six months of 2022”, reads the press release adding that the agreement also provides for call and put options, respectively, for ILBE and the seller, for the purchase of the remaining share, equal to 40%, for a total value of 1,000,000, which ILBE may exercise, over a period of time of two years, starting from the date of completion, while the seller will be able to exercise from 1 July 2023 until 30 September 2023.