Mood Media buys franchisee
Marketing firm Mood Media said its subsidiary, Muzak, had bought the assets of one of its biggest franchisees for 27.9 million dollars in cash.
Marketing firm Mood Media said its subsidiary, Muzak, had bought the assets of one of its biggest franchisees for 27.9 million dollars in cash.
The acquired company offered a range of in-store audio, visual and even scent solutions to attract customers, and operated in the U.S. mid-Atlantic region, Mood said.
For the 12 months to the end of June the target firm had revenue and adjusted EBITDA of around $19.5m and $4.2m, respectively.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Mood said 80% of the cash owed was payable on closing with the remaining 20% payable on the 12 month anniversary of the deal, subject to certain post-closing purchase price adjustments.
MM
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published