Merlin Group signs preliminary agreement to buy Profit M

Merlin Group signed a preliminary agreement to acquire a 100 percent stake in Profit M, a company selling books and toys via the internet. The deal value may amount to PLN 17.4 million, Merlin said. A condition for signing a definitive agreement is the transformation of Profit M into a limited liability company. The agreement should be signed on November 5. Profit M revenue in 2017 amounted to PLN 51.5 million, profit stood at PLN 1.5 million. Sales in H1 2018 were PLN 28.5 million, an increase of 34 percent y/y.