Monkey Rock Group, Inc. Initiates First Acquisition to Enhance Business Strategy

Rhea-AI Summary

Monkey Rock Group Inc. (OTC Pink: MKRO) has initiated its first acquisition, signing an agreement to purchase a 50% stake in Sviluppo Dati S.r.l., an Italian firm specializing in payroll processing and accounting for logistics companies. This acquisition includes control over Sviluppo Dati's subsidiaries, Global United Logistic and Global United Logistic Iberia, which focus on petrochemical product shipment and generate approximately €7 million in revenue and €430,000 in annual EBIT.

The strategic move aims to enhance production processes through digitalization and promote ecological transition in logistics and transportation. This transaction marks Monkey Rock's establishment of an independent identity and sets the foundation for anticipated global acquisitions in the current calendar year.

Positive

• Acquisition of 50% stake in Sviluppo Dati S.r.l., gaining expertise in payroll processing and accounting for logistics
• Control over subsidiaries generating €7 million in revenue and €430,000 in annual EBIT
• Strategic focus on enhancing production processes through digitalization
• Commitment to ecological transition in logistics and transportation

Negative

• None.

Milan, Italy--(Newsfile Corp. - July 15, 2024) - Monkey Rock Group Inc. (OTC Pink: MKRO), a US corporation organized under Delaware law, has launched the acquisition process announced earlier, involving a merger with Sviluppo Dati S.r.l., an Italian firm specializing in payroll processing and accounting for logistics companies.

On July 7, 2024, Monkey Rock Group signed an agreement to acquire a 50% stake in Sviluppo Dati S.r.l. This acquisition also includes control over Sviluppo Dati's subsidiaries, Global United Logistic and Global United Logistic Iberia (www.globalitaly.net). Both subsidiaries focus on the shipment of petrochemical products, together generating approximately €7 million in revenue and around €430,000 in annual EBIT.

Monkey Rock's strategic goal is to enhance production processes by integrating digitalization across all operations, leveraging Sviluppo Dati's expertise. The company is also dedicated to ecological transition, aiming to transform traditional logistics and transportation into green, zero-emission solutions.

Our President Giuseppe Esposito stated "We are pleased for this important 1st transaction for Monkey Rock where it has established its independent identity and provides the foundation for the anticipated global acquisitions this calendar year.

Forward-looking statements

This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of Monkey Rock Group, Inc., (MKRO), certain of the plans and objectives of MKRO with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future EBITA and future developments in our organic business. Forward-looking statements can be identified generally as those containing words such as "anticipates", "assumes", "believes", "estimates", "expects", "should", "will", "will likely result", "forecast", "outlook", "projects", "may" or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

These factors include, but are not limited to, domestic and global economic and business conditions, the successful implementation of our strategy and our ability to realize the benefits of this strategy, our ability to develop and market new products, changes in legislation, legal claims, changes in exchange and interest rates, changes in tax rates, pension costs and actuarial assumptions, raw materials and employee costs, our ability to identify and complete successful acquisitions and to integrate those acquisitions into our business, our ability to successfully exit certain businesses or restructure our operations, the rate of technological changes, political, economic and other developments in countries where MKRO operates, industry consolidation and competition. As a result, MKRO actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements.

Giuseppe Esposito
President
Monkey Rock Group, Inc.
GE Holding SRL
+3902800281

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/216500

FAQ

What company did Monkey Rock Group (MKRO) acquire a stake in?

Monkey Rock Group (MKRO) acquired a 50% stake in Sviluppo Dati S.r.l., an Italian firm specializing in payroll processing and accounting for logistics companies.

How much revenue do Sviluppo Dati's subsidiaries generate annually?

Sviluppo Dati's subsidiaries, Global United Logistic and Global United Logistic Iberia, generate approximately €7 million in revenue annually.

What is the annual EBIT of the acquired subsidiaries?

The acquired subsidiaries generate around €430,000 in annual EBIT (Earnings Before Interest and Taxes).

What are Monkey Rock Group's (MKRO) strategic goals with this acquisition?

Monkey Rock Group's strategic goals include enhancing production processes through digitalization and promoting ecological transition in logistics and transportation.