Kindred Group Acquires Relax Gaming Completely with a 295-Million-Euro Deal
The leading online gambling brand – Kindred Group plc acquires the last shares of Relax Gaming, costing Kindred 295million Euros in total.
The former biggest shareholder at Relax Gaming – Kindred Group plc, which owned more than 33% of the company since 2013, has now secured a deal to acquire the other ~66%.
The payments for the acquisition will be divided into three parts, that will be fully paid by 2023.
Kindred’s CEO – Henrik Tjärnström commented on the buyout:
“Via this deal we are gaining a superb, internationally established and highly fruitful brand in the industry, which will surely boost Kindred’s presence in the global market, making it easier and more accessible for us to put our priorities into ameliorating product customization and player experience.”
Kindred Group’s aim with this addition, according to the CEO, is to keep Relax Gaming as an independent establishment inside the confines of Kindred, with an independent, individual team of senior positions.
In more particularity, Kindred’s share of Relax will now be at 93%, leaving the remaining 7% of the ownership to Relax’ management team.
Relax Gaming’s co-founder/chairperson, Patrik Österåker also added:
“Kindred’s buyout of our company comes as an organic and logical continuation to the long and fruitful years of partnership between both of our brands’.
While Kindred Group’s solid foundation in the industry will only boost our own capabilities, we plan to stay true to our values, without changing our portfolio and our strategies.”