Kindred to acquire 32Red2017-03-14 14:31:15
The group which owns the StanJames gaming brand has agreed to a multi-million-pound takeover deal of the online casino operator 32Red.
Kindred is one of the largest online gaming and sports betting companies in the world. The 32Red deal is believed to be in the region of £175m. For this amount, Kindred will acquire 32Red with the acquisition being recommended to its shareholders.
32Red boss Ed Ware commented, 'We have consistently and profitably grown 32Red’s market share in the regulated markets of the UK and more recently, Italy.'
'The management team at Kindred have a similar business philosophy to our own and we look forward to joining forces with Kindred and continuing our successful growth within the Kindred Group.'
Henrik Tjärnström of Kindred added: 'The acquisition of 32Red is consistent with our multi-brand strategy and stated a desire to grow our business in regulated and soon to be regulated markets.
'32Red is a high quality, customer-focused business with a similar culture to Kindred's and we are delighted to welcome 32Red and its team into the Kindred Group and look forward to further developing the brand going forward.'