As communicated separately, First Camp acquires the camping operations of Lodgyslife, a leading operator of nine camping destinations in Switzerland and Germany under the CAMPING LODGE and AZUR brands. The acquiring company, “Kod-TopCo AB” is not classified as a subsidiary of First Camp Group according to the Terms and Conditions in respect of First Camp Group’s bond. Therefore, bondholders in First Camp Group AB are not directly affected by this transaction.
To allow for a seamless and cost-efficient integration of CAMPING LODGE and AZUR into First Camp Group in the future, the majority of the share capital in Kod-TopCo AB is owned by a subsidiary of First Camp Group. However, the majority of the voting shares will be held by a sister company outside of First Camp Group, and Kod-TopCo AB and the acquired entities will thus not qualify as subsidiaries of First Camp Group under the First Camp bond Terms and Conditions. The acquisition is financed by bank financing in Kod-TopCo AB and a subordinated loan from United Camping Holding AB to Kod-TopCo AB. Any transfer of value from First Camp to Kod-TopCo AB and the acquired entities will be restricted under the Terms and Conditions
Lodgyslife operates nine destinations across the DACH region, with a strong focus on guest satisfaction, sustainability, digitalisation and high operational standards. The company has demonstrated solid growth in recent years and holds a strong position in both the Swiss and German camping markets.
Closing is expected to take place shortly, following customary procedural steps.
For more information, please contact:
Göran Meijer
CFO, First Camp Group
goran.meijer@firstcamp.se
Johan Söör
CEO, First Camp Group
johan.soor@firstcamp.se
+46 766 41 18 25