DGAP-News

MBH EXTENDS FOOTPRINT IN THE UNITED STATES WITH ACQUISITION OF BOULDER SAUSAGE - A LONG ESTABLISHED, COLORADO BASED COMPANY

DGAP-News: MBH Corporation Plc / Key word(s): Investment MBH EXTENDS FOOTPRINT IN THE UNITED STATES WITH ACQUISITION OF BOULDER SAUSAGE - A LONG ESTABLISHED, COLORADO BASED COMPANY 15.02.2021 / 08:50 The issuer is solely responsible for the content of this announcement. MBH EXTENDS FOOTPRINT IN THE UNITED STATES WITH ACQUISITION OF BOULDER SAUSAGE - A LONG ESTABLISHED, COLORADO BASED COMPANY

London, 15 February 2021, MBH Corporation plc (MBH), a diversified investment holding company, is making its third US acquisition in 6 months by taking on Boulder Sausage, a long established Colorado based, premium quality sausage and bacon manufacturer. Boulder Sausage becomes MBH's 24th portfolio company following the company making 12 acquisitions in 2020. This latest acquisition establishes a new vertical as MBH's first food manufacturing company.

MBH Corporation plc is furthering its United States footprint today with the acquisition of Boulder Sausage, Colorado's number one sausage brand. Boulder launched over 50 years ago and has been committed to the same sausage recipe ever since, alongside additional firm commitments to using the highest quality and freshest ingredients possible with minimal processing.

Boulder Sausage becomes MBH's third acquisition in the US following the Group acquiring 'Meeting of the Minds' and 'Everyday Realty Services' in September 2020. Like those two acquisitions, Boulder Sausage shares similar growth ambitions as they look to evolve their sales streams.

Analysis^₁ of consumption data reveals over a third (36%) of the US population ate more than 2lbs of sausages in 2020 with 13.65m of them (4%) consuming 5lbs or more of sausages in the same year. With that, the appetite for sausages remains at an all time high.

Boulder is looking to grow through 2 channels:

a) Growth through e-commerce platforms to increase geographical reach beyond sales to brick and mortar retailers; and

b) Growth through acquisitions which will allow them to diversify their product range and customer base.

For the year ending 31st December 2020, Boulder Sausage unaudited sales were US$4.8m with an EBIT of US$0.4m. Unaudited net assets as at 31 December 2020 were US$1.7m This acquisition is another EPS accretive for MBH.