Humble Group AB ("Humble") has through subsidiaries acquired all shares in JXPO Limited ("Jutexpo") in the United Kingdom and in M. Willumsen AS ("Willumsen") in Norway (together, the "Acquisitions"). In parallel, Humble has divested all shares in Performance.R.us AB ("PRU") and Limitless Brands AB ("Limitless Brands") to ProteinBolaget i Sverige AB, and also divested all shares in subsidiaries within LEV Group that drive physical stores (“LEV Stores”) (together, the "Divestments"). The Divestments form part of the strategic review communicated by the Company on 19 September 2025. Collectively, the transactions aim to streamline the Group’s structure, strengthen the profitability profile, and sharpen the focus on scalable platforms with a clear strategic fit.
About the Acquisitions
- Jutexpo: Jutexpo is a UK-based company active in the distribution of reusable bags in retail. The acquisition is a bolt-on to Humble’s subsidiary Solent Group Limited, with which there is a strong strategic overlap and clear synergies. Jutexpo will be consolidated from April 1st 2026 and is planned to be integrated into Solent.
- Willumsen: Willumsen is a Norwegian distributor of tea and cosmetics products. The company is planned to be integrated with Humble’s subsidiary Vitalkost AS, where there are material synergies from operational cost savings and increased channel exposure across the companies’ product portfolios. Willumsen will be consolidated from March 1st 2026.
The transactions in brief
- The Acquisitions contribute approximately MSEK 185 in net sales and approximately MSEK 13 in EBIT on an annual basis, excluding potential synergies.
- The Divestments reduce net sales by approximately MSEK 112 and strengthen EBIT with approximately MSEK 1 on an annual basis.
- The net effect of the transactions is therefore expected to amount to approximately MSEK +73 in net sales and approximately MSEK +14 in EBIT, including estimated synergies. The transactions thus represent increased net sales with improved profitability for the Group.
- In the parent company, the estimated earnings impact amounts to approximately MSEK -15 attributable to the sale of shares in subsidiaries.
- In the Group, the estimated accumulated earnings impact from the Divestments amounts to approximately MSEK 0 after Group adjustments, which will be reported to approximately -6 MSEK in the first quarter and approximately +6 MSEK in the second quarter of 2026.
The Divestments are strategic transactions aimed at streamlining operations and creating the conditions to increase focus on core businesses. The Acquisitions are in line with Humble’s continued strategy of executing bolt-on acquisitions to established platforms with a clear structural fit. Humble continues to run parallel processes regarding strategic divestments as part of the evaluation of business focus communicated in the press release of September 19, 2025.