Huntsworth has announced the acquisition of controlling stakes in Creativ-Ceutical and Kyne Communications

Huntsworth plc, the healthcare and communications group, today announces the acquisition of 70% of Creativ-Ceutical S.A.R.L. (“CC”), a Luxembourg company, from 100% shareholder Avicenne Invest S.A., a company connected to CC’s founder Pr Mondher Toumi for an initial cash consideration of €15.5 million, and the acquisition of 85% of Kyne Communications, LLC and Kyne Communications Limited through direct and indirect interests (together, “KYNE”) from founder and majority shareholder David Kyne and his wife Jacqueline Kyne together with associates for an initial cash consideration of $17.4 million. The Group also announces a successful placing raising gross proceeds of £16.3 million (the “Placing”) to part-fund the acquisitions, with the balance (approximately £12 million) to be funded from existing debt facilities.

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