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- Baozun Inc. (NASDAQ: BZUN) inked an agreement to acquire Full Jet Limited to tap the flourishing Chinese personal luxury market.
- The acquisition is expected to complete by February 10, 2021, subject to conditions.
- The purchase price is valued at 12.5 times Full Jet’s 2020 EBITDA, consisting of a 50% initial cash payment and a performance-based earnout consideration over the next three years. Additionally, there is an incentive program for Full Jet’s management team, subject to an earnout clause.
- The company expects acquisition synergies worth RMB20 billion (roughly $3.1 billion) in the form of annual Gross Merchandise Value (GMV) over the next three to five years.
- Baozun had $663.7 million (RMB4,506.4 million) in cash equivalents on September 30, 2020.
- Price action: BZUN shares are trading higher by 9.43% at $42.80 on the last check Wednesday.
- Related News: Alibaba Says Luxury Brand Coach Saw Singles Day Sales Rise 700%
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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