Global Blue Completes $225 Million Strategic Growth Equity Investment From Certares and Knighthead

Rhea-AI Summary

Global Blue Group Holding AG (NYSE: GB) has finalized a $225 million investment agreement with CK Opportunities Wolverine S.a.r.l. The funding includes $180 million in Series B preferred shares and $45 million in common shares. The investment aims to support strategic acquisitions in Payment and omnichannel Retail Technology, alongside boosting working capital for its recovering Tax-Free Shopping business post-COVID-19. This move underscores Global Blue's commitment to enhancing its technological and service offerings across various sectors.

Positive

• Secured $225 million investment to bolster financial position.
• Funds allocated for strategic acquisitions in Payment and Retail Technology sectors.
• Supports recovery of Tax-Free Shopping business post-pandemic.

Negative

• None.

EYSINS, Switzerland--(BUSINESS WIRE)-- Global Blue Group Holding AG (NYSE: GB and GB.WS), is pleased to announce it has completed the investment agreement with CK Opportunities Wolverine S.a.r.l (“CK Opportunities”), an investment fund co-managed by Certares Opportunities LLC (“Certares”), a global travel, tourism and hospitality investment firm, and Knighthead Opportunities Capital Management, LLC (“Knighthead”), a leading credit investment management firm.

Under the terms of the agreement, dated May 5, 2022, CK Opportunities has agreed to invest $225 million, of which $180 million is for Series B preferred shares and $45 million is for common shares. Global Blue intends to use the funds to continue pursuing strategic add-on acquisitions in Payment and omnichannel Retail Technology and to fund working capital requirements associated with the significant recovery underway in its core Tax-Free Shopping business, after two years of reduced activity due to the Covid-19 pandemic.

A copy of the agreement can be obtained from the Securities and Exchange Commission’s website at www.sec.gov or the investor section of the Company’s website at Global Blue Group Holding AG - Investor Relations.

ABOUT GLOBAL BLUE

Global Blue pioneered the concept of Tax Free Shopping 40 years ago. Through continuous innovation, we have become the leading strategic technology and payments partner, empowering retailers to improve their performance and shoppers to enhance their experience.

Global Blue offers innovative solutions in three different fields:

• Tax Free Shopping: Helping retailers at over 300,000 points of sale to efficiently manage 35 million Tax Free Shopping transactions a year, thanks to its fully integrated in-house technology platform. Meanwhile, its industry-leading digital Tax Free shopper solutions create a better, more seamless customer experience
• Payments services: Providing a full suite of foreign exchange and Payments technology solutions that allow acquirers, hotels and retailers to offer value-added services and improve the customer experience during 31 million payment transactions a year at 130,000 points of interaction
• Complementary RetailTech: Offering new technology solutions to retailers, including digital receipts and eCommerce returns, that can be easily integrated with their core systems and allow them to optimise and digitalise their processes throughout the omni-channel customer journey, both in-store and online

In addition, our data and advisory services offer a strategic advisory to help retailers identify opportunities for growth, while our shopper experience and engagement solutions provide data-driven solutions to increase footfall, convert footfall to revenue and enhance performance.

For more information, visit http://www.globalblue.com/corporate/

Pre-pandemic figures FY 2019-20

Source: Global Blue

View source version on businesswire.com: https://www.businesswire.com/news/home/20220615005604/en/

INVESTOR RELATIONS CONTACTS

Frances Gibbons – Head of Investor Relations

Mob: +44 (0)7815 034 212 – Mail: fgibbons@globalblue.com

Source: Global Blue Group Holding AG

FAQ

What is the recent investment agreement for Global Blue (NYSE: GB)?

Global Blue completed a $225 million investment agreement with CK Opportunities Wolverine S.a.r.l, including $180 million in preferred shares and $45 million in common shares.

How will Global Blue utilize the $225 million investment?

The funds will support strategic acquisitions in the Payment and omnichannel Retail Technology sectors and fund working capital for the recovering Tax-Free Shopping business.

When was the investment agreement signed for Global Blue (GB)?

The investment agreement was signed on May 5, 2022.

What areas will the investment for Global Blue (NYSE: GB) focus on?

The investment will focus on enhancing Payment services, omnichannel Retail Technology, and supporting the Tax-Free Shopping business.